Lease Beat

Platinum Partners Inks 250 West 55th Street Lease

250 West 55th Street. (Credit: Boston Properties)

Platinum Partners, a hedge fund with more than $1 billion in assets under management, has signed a 10-year lease for the entire 23,274-square-foot 14th floor of Boston Properties250 West 55th Street, Commercial Observer has learned.

The tenant, currently headquartered at Carnegie Hall Tower, will pay rent starting in the mid-$70s per square foot, according to data from CompStak. The terms are similar to the recent deal for Modern Bank, which Commercial Observer first reported last month. Read More

Lease Beat

Solil Management Inks 27,500-SF Sublease at 1185 Avenue of the Americas

1185 Avenue of the Americas

Solil Management subleased roughly 27,500 square feet of SL Green‘s 1185 Avenue of the Americas. The company, which manages the late developer Sol Goldman‘s estate, will sublease the entire 10th floor space from oil giant Hess.

Norman Bobrow and David Badner of Norman Bobrow & Company of the eponymous brokerage represented a tenant that was looking for more space than at its home of 24 years at 640 Fifth Avenue. Amy Fox and Stuart Romanoff of Cushman & Wakefield represented the sub-landlord. Read More

Lease Beat

Surgeon Signs Lease at 485 Madison Avenue


David B. Samadi, M.D., chief of robotics and minimal invasive surgery at Mount Sinai School of Medicine, has signed a lease for 8,179 square feet on the 21st floor of Jack Resnick & Sons485 Madison Avenue. Asking rent in the building is $54 per square foot.

Dr. Samadi, a urologic surgeon trained in oncology and robotic surgery, performed the first robotic prostate cancer surgery at Columbia Presbyterian Hospital and has performed over 3,800 prostate surgeries. Dr. Samadi has made a number of television appearances, including as a member of the Fox Medical A-team panel, and will use the 485 Madison Avenue office for patient consultations. Read More

Feature Story

The Mini-Moguls at the Gate

Marilyn Kane (Photo: Will O'Hare)

Marilyn Kane doesn’t miss being a schoolteacher. “People ask me that all the time,” Ms. Kane said. “And I don’t really. But I do enjoy explaining things well to people and seeing that light go on.”

Ms. Kane is the president and a founding partner of Iridium Capital, a real estate fund management company with an emphasis on retail properties (including Walgreens and 7-Eleven) and an exclusive focus on triple net leases. Hatched by Ms. Kane, her husband David Kane and Chief Financial Officer Sean Shanahan during the depths of the Great Recession, Iridium aims to mint what Ms. Kane calls “mini-moguls,” opening its doors to investors lacking beaucoup capital and investment expertise.

Although she no longer teaches in the classroom, Ms. Kane is a fixture on the financial lecture circuit, and she takes pride in introducing largely female audiences to the possibilities of real estate investment. She aims to erase “that deer in the headlight look” that often greets an economics crash course, “especially with women,” Ms. Kane said. “They’ll say, ‘Oh, finance—I don’t know that.’ And I tell them, ‘Do not say that to me.’” Read More

Lease Beat

Korea-Based Hana Bank Renews 7,318 SF at 650 Fifth Avenue

650 Fifth Avenue

Korea-based financial institution Hana Bank has signed a 10-year, 7,318 square-foot office lease renewal on the 15th floor at 650 Fifth Avenue, where ownership plans to reap the rewards of an ongoing capital improvement project.

The 36-story, 382,500 square-foot office building located in the Plaza District on 52nd Street, on the northern edge of Rockefeller Center, recently underwent an $11 million lobby renovation, completed in July.

“The building has always treated them well and we’re fortunate to retain them in the building,” said CBRE’s Paul Haskin, who represented owner 650 Fifth Avenue Company along with Robert Stillman and Zachary Freeman.  “I think they’re excited to stay, particularly given the renovations the owner has completed, as they continue to improve the property.” Read More

Lease Beat

Manon Set to Open in Meatpacking

Courtesy of the Maison Dellos Group

The Maison Dellos Group, owned by Andrei Dellos, is set to open a new four-story restaurant in the Meatpacking District called Manon.

The restaurant will be located at 407 West 14th Street and will feature a mix of French, American, and Pan-Asian cuisines. The restaurant will span 19,740 square feet with the restaurant occupying the first two floors and a part of the third, a wine cellar on the rest of the floor, and then offices on the fourth floor. Read More