Lease Beat

Universal Music Group Inks Renewal at 1755 Broadway

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Despite having five years left on its current lease, Universal Music Group has signed 10-year renewal for its 242,505-square-foot space on floors two through eight at Jack Resnick & Sons1755 Broadway, The Commercial Observer has learned. The music publishing company’s lease agreement for the entire office portion of the mixed-use building now extends through 2028. Read More

Lease Beat

Macy’s Expands, Renews For A Total 197,000 Square Feet At 1440 Broadway

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Monday Properties announced the 31,700-square-feet expansion of Macy’s, Inc. at 1440 Broadway, the building Monday Properties owns and operates on the southern fringe of Times Square at 40th Street.

It was the storied 150-year old retailer’s third expansion in two years at the 25-floor office building, and gave it full occupancy of the 10th floor, which Advance Magazine Publishers had  subleased to Skadden Arps since 2006. CBRE Vice Chairmen Scott Gottlieb and Michael Laginestra represented the tenant, while Monday Properties Director Jordan Berger represented the owner. Read More

Lease Beat

Bean Counters Holtz Rubenstein Reminick Moving to 1 Penn Plaza

1 Penn Plaza. (CoStar)

Fresh off earning “2012 Accounting Firm of the Year” honors from the New York Enterprise Report, bean counters Holtz Rubenstein Reminick inked a lease for its new 29,271 square foot office at 1 Penn Plaza, The Commercial Observer has learned.

The firm will be moving out of its current offices at 1430 Broadway, where it has a 14,360 square foot office space on the 17th floor, to 1 Penn Plaza sometime before the end of the year, a source close to the deal said.  Read More

Triple Threat

When’s the leasing market going to return, or has it returned already?

Mr. Siegel: The leasing market has shown strong indications in Midtown of returning to good health. It appears that people have determined that the rents have bottomed out and they want to take advantage of the bargains that are out there. June, Read More