Lease Beat

Pixafy Relocates to 810 Seventh Avenue

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Pixafy has signed a 10-year lease for the entire 17,320-square-foot 37th floor at SL Green’s 810 Seventh Avenue, The Commercial Observer has learned. The company will pay rent starting in the mid-$60s per square foot, according to data from CompStak.

Pixafy relocated from 475 Park Avenue South earlier this month after a seven-month, 40-building search for new office space. It is the company’s third relocation since its founding in 2010. Read More

Lease Beat

All in the Family: Construction Company Secures New York Office

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LPCiminelli Inc., a Buffalo-based construction company, has signed a 5-year lease for 5,836 square feet on the 35th floor of 1250 Broadway. Asking rents were in the mid-$50s per square foot.

The deal with brokered on the tenant side by Kyle Ciminelli, managing director at Newmark Grubb Knight Frank and nephew of the LPCiminelli’s owner, Louis Ciminelli.

“Representing a family member is always fun,” Mr. Ciminelli told The Commercial Observer. Read More

Lease Beat

Major, Lindsey & Africa Takes Nearly 22,000 SF at 521 Fifth Avenue

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Legal industry recruiter Major, Lindsey & Africa has signed a 10-year lease at SL Green Realty Corp’s 521 Fifth Avenue.

The transaction, coupled with Chinatrust Commercial Bank, Ltd.’s lease at the building, which was also just announced, raises occupancy at the 463,000-square-foot, 39-story boutique office building, located two blocks from Grand Central Terminal, to 98 percent, according to a statement from SL Green.

“Leasing activity at the building accelerated at the end of 2012,” said Steven Durels, director of leasing at SL Green, adding that “comprehensive redevelopment and value-oriented rents have attracted several new tenants to the building.” Read More

Cushman & Wakefield Marketing 100,000 SF Being Vacated by Pearson at 1330 Avenue of the Americas

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Cushman & Wakefield has been appointed by RXR Realty as the exclusive leasing agent for roughly 100,000 square feet being vacated by Pearson at 1330 Avenue of the Americas, where ownership recently completed a capital improvement program and a rare signage opportunity awaits a prospective anchor tenant.

Floors 7 through 10, 14, 16 and 17 will come online in the 40-story trophy building in January 2014, after Pearson vacates the space, freeing up four sides of illuminated signage atop the building (the signage is currently branded “FT” for Pearson-owned Financial Times) for the new tenancy to broadcast its image into the Manhattan skyline.

“We want it to be the right image for the right company, and one that takes a meaningful presence in the building,” said William Elder, leasing director with RXR Realty.  “This is a very rare opportunity that allows for top of building signage just outside of Times Square. Read More

Lease Beat

Advertising Firm SpotCo Signs Lease at 114 West 41st Street

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SpotCo has signed a lease at 114 West 41st Street, located between Broadway and 6th Avenue in the Garment District.

The entertainment and arts advertising firm, which is relocating from 512 7th Avenue, is taking 23,402 square feet in the 22-Story, 304,000-square-foot building, on floors 18 and part of 17.

“We are thrilled to have a space that will allow us to service the entertainment community in the most contemporary way possible,” said Drew Hodges, SpotCo’s CEO, in a prepared statement. Read More

Cushman & Wakefield to Lease 1250 B’way

Cushman & Wakefield's Mitch Arkin (R), seen here with Jeff Roseman (L) (Photo courtesy of Patrick McMullan)

Cushman & Wakefield has been tapped as the exclusive leasing agents for 1250 Broadway, a 773,887-square-foot, Class A office building that is jointly owned by Jamestown Properties and Murray Hill Properties, The Commercial Observer has learned.

A leasing team headed by Mitch Arkin, Peter Alden and Michael Blanchard will be joined by Courtney Adham and Lauren Hayes from Cushman & Wakefield’s Strategic Agency Services Group. Read More