Lease Beat

Lands’ End Inks 1407 Broadway Office Lease

1407 Broadway

Retailer Lands’ End has signed a 10-year, 13,729-square-foot lease for the entire 27th floor at 1407 Broadway. The tenant will relocate to The Lightstone Group-owned property from 530 Seventh Avenue.

 “The excellent central location as well as the tower floor’s wonderful light and window line were certainly a huge draw,” said Amanda Bokman, senior vice president of CBRE, in a prepared statement. Read More


CBRE Named Exclusive Agent at 1407 Broadway

1407 Broadway

CBRE has been named the exclusive leasing agent at 1407 Broadway, The Commercial Observer has learned. Peter Turchin will lead the leasing team at the Lightstone Group’s 1-million-square-foot Midtown office building.

In addition to naming a new leasing team, ownership will soon begin repositioning the property, including upgrading the building’s lobby and retail façade—all with a view toward attracting a broader tenant base. Read More

Tech and the City

Midtown South Rents Up 44 Percent as Tech Spurs Double Digit Growth Nationwide


Tech submarkets across the country have posted double-digit growth in rents over the past two years according to CBRE’s U.S. Tech-Twenty report, provided exclusively in New York to The Commercial Observer.

In that two-year time frame, Midtown South, New York’s tech hub known as Silicon Alley, has seen rents jump 44 percent, a clear indication of the Big Apple’s growing appeal to tech companies and start-ups. Read More

Lease Beat

Profero Signs for 13,121 SF at Billy Macklowe’s Tech Magnet 386 Park Avenue South

386 Park Avenue South

The communications agency Profero signed a long-term, 13,121-square-foot lease at 386 Park Avenue South.

Sam King and Gerry Miovski of CBRE represented the tenant, which specializes in digital advertising and marketing. Paul Amrich, Neil King, Ross Zimbalist and Kerry Powers, also of CBRE, represented the landlord, a partnership between William Macklowe Company and Principal Real Estate Investors, LLC. Asking rent was between $50 and $60 a foot. Read More

Lease Beat

Mobile Advertising Company to Relocate to Macklowe’s 386 Park Avenue South


Mobile advertising company MoPub will relocate to a 13,121-square-foot prebuild on the 12th floor of Billy Macklowe’s 386 Park Avenue South in June, the New York Post reported earlier this week.

The mobile company, currently based at 71 Gansevoort Street in the Meatpacking District, offers an advertising serving platform for mobile application publishers, allowing clients to manage advertising on both iPhone and Android devices. Headquartered in San Francisco, MoPub was founded by former Google and AdMob employees and is backed by venture capital groups Accel Partners, Harrison Metal Capital and Jafco Ventures.

Read More

Lease Beat

Winkleviis Vie Successfully for New Chelsea Office Space

The Winklevoss Brothers (and Precious) (photo by Clint Spaulding by Patrick McMullan)

Tyler and Cameron Winklevoss, the Harvard-educated twins who earned notoriety for their portrayal in the film “The Social Network,” have landed a Chelsea space for their new eponymous venture capital fund.

The twins, who rowed in the 2008 Summer Olympics in Beijing, inked a five-year lease at 30 W. 24th Street for their firm Winklevoss Capital, as was first reported by The New York Post

Asking rent in the deal was $39-a-square-foot. James Buslik and Alan Bonett of Adams & Co. represented Elizabeth Goffredo, the listed owner of 30 West 24th Street, according to CoStar data.  Read More


Rough and Tumbl: The Broker Behind Silicon Alley’s Next Big Real Estate Deal

Matthew Bergey on the High Line (photo credit: Hannah Mattix)

Matthew Bergey is a vice president at CBRE who has developed a specialty handling deals with tenants in creative industries and the technology sector. He represents several high-profile tenants in the city, including Tumblr, and is also the agent for a number of office properties, including the high-end boutique buildings 414 West 14th Street and 450 West 14th Street in the booming meatpacking district. He joins The Commercial Observer for this week’s Sit-Down, where he talks about how his love of contemporary art helps him secure tech clients. Read More