Lease Beat

Law Firm Inks Times Square Relocation, Expansion

11 Times Square

High-profile family law firm Cohen Rabin Stine Schumann will expand and relocate its Times Square headquarters to a 10,881-square-foot space at 11 Times Square in October, Commercial Observer has learned.

The structure completed in January 2011 with asking rents in the $70s per square foot will host the full-service matrimonial, family law and litigation firm on a lease that runs through June 2025, said partners Harriet N. Cohen and Bonnie Rabin. Read More

Lease Beat

Veracen Partners Among Pack of New Leases at 250 West 55th Street

250 West 55th Street. (Credit: New York Yimby)

Veracen Partners is among a set of several new tenants to take space at Boston Properties250 West 55th Street, signing a 10-year, 11,263-square-foot lease for a portion of the 16th floor at the 38-story tower.

CBRE, which represented the landlord, announced the lease concurrently with a 7,196-square-foot deal with RTW Investments & LifeSci Capital and a 4,806-square-foot Coltrane Asset Management lease. All three firms will occupy the 16th floor of the building, which features new high-end prebuilts designed by Gensler, with 10-foot ceilings and perimeter offices. Read More

Lease Beat

Jewelry Purveyor Renews, Expands at 579 Fifth Avenue

579 Fifth Avenue (Photo courtesy of Stawski Partners)

Italian fine jewelry purveyor Roberto Coin Inc. has signed a 10-year renewal and expansion at 579 Fifth Avenue, Commercial Observer has learned. The tenant has leased the building’s entire 16th and 17th floors for a total of 9,134 square feet.

Roberto Coin had previously occupied approximately 7,000 square feet at the Stawski Partners’ property. The landlord recently completed a major renovation of the building designed by Kohn Pedersen Fox. Upgrades included a two-story transparent storefront, a new lobby and elevator improvements.

Read More

Lease Beat

Leasing Activity Remains Steady at Boston Properties’ 510 Madison


Financial services tenants have been flocking to Boston Properties510 Madison Avenue and three recent deals indicate interest remains high, despite triple-digit rents. The Canada Pension Plan Investment Board, 400 Capital Management and Prosiris Capital Management have all signed 10-year, 11,500-square-foot full floor deals in the building, a source familiar with the transactions confirmed with The Commercial Observer. Read More

Lease Beat

Online Charity Relocates in Midtown

71st Annual Peabody Awards has signed a 10-year lease for the entire 10,000-square-foot 11th floor at 134 West 37th Street, The Commercial Observer has learned. Touted by Oprah Winfrey and Stephen Colbert, the charity will relocate from nearby 213 West 35th Street. allows public school teachers across the country to post classroom project requests online. Donors are able to view each request and make donations online and once the funding goal is reached, sends materials to the school. Read More

Lease Beat

Macro Risk Advisors Renews at 1450 Broadway

Agency-broker Macro Risk Advisors has renewed its 3,771-square-foot lease on the 28th floor of 1450 Broadway. Asking rents for the tower floors range from $65 to over $70 per square foot.

“These are all office users that are being drawn to this building primarily due to the location and renovations,” Jonathan Fanuzzi, broker at Jones Lang LaSalle, who represented the landlord, told The Commercial Observer of the building’s recent leasing activity, declining to comment on the term of Macro Risk Advisors’ lease. Read More

Lease Beat

Tech Consulting Firm Relocates, Follows Clients to Midtown South


AC Lion, a firm specializing in sales and technology recruitment, has signed a seven-year lease for the entire 6,000-square-foot 15th floor at 253 West 35th Street, it was announced today. Asking rents were not disclosed.

“We were able to identify an efficient full-floor opportunity with high, exposed ceilings, polished concrete floors, large windows and an abundance of natural light that catered to an open plan user,” Sam Seiler, vice president at CBRE, who represented the tenant, told The Commercial Observer. Read More

Lease Beat

Bank Leumi USA Leases 60,000 Square Feet At Polished Up 579 Fifth Avenue

579 Fifth Avenue (Photo courtesy of Stawski Partners)

Bank Leumi USA signed a 20-year, 60,000-square-foot lease at 579 Fifth Avenue and will fan out across five floors of the 17-story, 150,000-square-foot Midtown building. The American satellite of the Israeli bank currently has a branch at the ground floor storefront. Asking rents were in the $60 per square foot range.

Brian Gell of CBRE represented the tenant. Sam Seiler, Stephen Kenneth Eynon and Edward Goldman–also of CBRE–represented the landlord, Axel Stawski. Read More

Lease Beat

KGS Alpha Capital Markets Takes Sublease Space at 601 Lexington Avenue

601 Lexington Avenue (photo courtesy of CoStar)

Fixed income brokers KGS Alpha Capital Markets has inked a deal to sublease 30,206 square feet of space at 601 Lexington Avenue, relocating its NYC headquarters from 850 Third Avenue, The Commercial Observer has learned. 

The company will be taking the entire 44th floor in the deal, which was previously occupied by Citadel Investment Group. Asking rents in the 5-year deal were $85-a-square-foot. 

John Nugent and Sam Seiler of CBRE represented Citadel Investment Group. Andrew Sachs and Bill Levitsky of Cushman & Wakefield represented KGS Alpha Investment Group in the transaction.  Read More

Lease Beat

Lionstone Capital Takes its Lion’s Share of Space at 152 West 57th Street

The Carnegie Tower

Financial planners Lionstone Capital have renewed its lease at The Carnegie Hall Tower on 152 West 57th Street for another 3 years, a person close to the deal told The Commercial Observer. 

The firm will continue to occupy a 4,117-square-foot space at the 36th floor of the 60-story building. Asking rent for the space is $100-a-square-foot. 

Sam Seiler of CBRE represented Lionstone Capital in the lease deal. Matt Leon of Newmark Grubb Knight Frank represented TF Cornerstone, the property manager of 152 West 57th Street, in the deal.  Read More

Lease Beat

After Signaling It Will Dump $22 Billion Of CRE, Blackstone Grabs Citadel Space

601 Lexington Avenue

The Blackstone Group, which today signaled it would sell off much of its portfolio of U.S. office properties, has leased a floor high in 601 Lexington Avenue from investment firm Citadel Group.

Blackstone will take the building’s entire 48th floor in the deal, a 31,000-square-foot space, for five years, which is the remaining term on Citadel’s lease at the property.

The location is convenient for Blackstone, which has its world headquarters just a block away at 345 Park Avenue. The company, according to sources, plans to the use the floor for a division involved in technology within the company, though the details of its occupancy could not be learned by press time. Read More