Lease Beat

Red Payments Renew at 132 West 36th Street

Courtesy of Kaufman Organization and CoStar

Red Payments has renewed its lease in Midtown, the Commercial Observer learned.

The merchant solutions and services firm will continue to operate out of its 16,213-square-foot office on the third floor of Kaufman Organization-owned 132 West 36th Street. The renewal extends through the next seven years. Read More

Lease Beat

Cubic Transportation Grabs 10K 462 Seventh Avenue

Courtesy of Sparta Commercial

Cubic Transportations will relocate their regional offices to Midtown.

Cubic Transportation Systems will take a 9,750-square-foot space on the 14th floor of 462 Seventh Avenue as its United States East Coast regional office. The department is one of three under Cubic Corporation, standing next to Cubic Defense Systems and Cubic Mission Support Services. Read More

Lease Beat

New York Real Estate Institute Expands at 132 West 36th Street

nyrei

The New York Real Estate Institute has locked up its own real estate for another eight years after it re-signed its lease to expand to 7,986 square feet at 132 West 36th Street.

NYREI, which offers courses in continuing education for a variety of real estate topics, will be expanding by an additional 1,470 square feet in its new lease. NYREI will now have the entire second floor in the 12-story building.

Steven Kaufman and Barbara Raskob of the Kaufman Organization represented both the landlord and the tenant in the lease deal.  The property is owned by Kaufman Arcade Associates, according to CoStar data.

Asking rent for the space were in the mid-$30s per-square-foot. Read More

Lease Beat

Konner Teitelbaum & Gallagher Content with 462 Seventh Ave, Re-Up for 10 Years

462 seventh avenue

Real estate law firm Konner Teitelbaum & Gallagher P.C. has renewed its lease for 9,750 square feet of space at 462 Seventh Avenue, it was announced earlier this week.

The company, which has been in the building for the past 10 years, will have its office repainted and carpeted. Asking rent in the 10-year lease renewal ranged between the high $30s to the low $40s per-square-foot.
Read More

Lease Beat

Hermes’ Favorite Carpet Makers Relocate to 22 West 19th Street

22 West 19th Street (photo courtesy of CoStar)

Fort Street Studios, a bespoke carpet company that weaves fine silk carpets for clients like Hermes and Louis Vuitton, is moving from its Soho offices to 22 West 19th Street.

The company, which was founded by artists Janis Provisor and Brad Davis, is moving from its old offices on 578 Broadway to a 8,100 square foot space on the 5th floor of the Flatiron area building, which is managed by the Kaufman Organization. Fort Street Studios signed a 10-year lease in the deal, with an asking rent in the high $30s-a-square-foot.

Steven Kaufman and Barbara Raskob of the Kaufman Organization represented the landlord in the deal. Jim St. Andrew of Peter McCuen & Associates, Inc. represented Fort Street Studios.  Read More