Lease Beat

Shared-Office Space Provider Gets Space on Varick Street

225 Varick Street. (Credit: CoStar Group)

Space incubator NeueHouse has signed a lease for 100,000 square feet at 222 Varick Street, two blocks away from competitor WeWork, in a deal that hasn’t been sealed, Crain’s reported.

NeueHouse, a private membership work collective with a space at 110 East 25th Street, is reportedly taking floors 10, 11 and 12 in Trinity Real Estate’s 12-story, 380,000-square-foot property between Carmine and Downing Streets. Read More

BIDs

Trinity’s Pizer Named as Chair of Hudson Square BID

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Jason Pizer, president of Trinity Real Estate, has been elected as Chairman of the Board of Directors of the Hudson Square Connection, the business improvement district announced today. Mr. Pizer replaces Laura Walker, president and chief executive of New York Public Radio, who had held the role since 2009.

“In just four years, the BID, working with other area stakeholders, has crystallized a vision for the neighborhood’s future,” said Ellen Baer, president of the Hudson Square Connection, in a statement. “Jason has played an instrumental role in determining the BID’s priorities, nurturing the area’s transformation and devising a strategy to create what will soon become New York City’s most sustainable neighborhood.” Read More

Lease Beat

Publisher Signs Hudson Square Renewal

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Workman Publishing Company, publisher of 1,000 Places to See Before You Die and What to Expect When You’re Expecting, has signed a 13-year, 63,200-square-foot renewal at Trinity Real Estate’s 225 Varick Street.

“The publishing and media industries are key to the strength and continued growth of Hudson Square,” said Jason Pizer, president of Trinity Real Estate, in a statement. “Workman Publishing is a long-time tenant whose belief in the neighborhood’s vibrancy and dynamic, creative spirit is reflected in their 13-year renewal.”

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Lease Beat

Motorcycle Dealer Signs Direct Lease in Hudson Square

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Mototainment, LLC has signed a 15-year, 8,300-square-foot lease at Trinity Real Estate’s 155 Avenue of the Americas.

The tenant, also known as Ducati Triumph NYC, is  an authorized dealer and service provider of Ducati, Triumph and Mission motorcycles. The dealer has signed a direct lease with the landlord after previously subleasing ground floor retail space at the Hudson Square property. 

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The Sit-Down

Helping Hudson: Ellen Baer on Transforming Hudson Square

Ellen Baer of the Hudson Square Connection (Photo: Mike Nagle)

Last month, the Hudson Square Connection, the Hudson Square neighborhood’s business improvement district, announced it was teaming up with the New York City Economic Development Corporation and the New York City Council on a $27 million streetscape improvement plan. The move is the latest step in transforming the once industrial hub of the city’s printing industry into a vibrant 24/7 community. The neighborhood, home to a daytime population of approximately 60,000, slows down dramatically once the lights go off at night. But that’s set to change. Recently rezoned, Hudson Square will soon be redeveloped to capture Downtown Manhattan’s booming residential growth. With the likes of Trinity Real Estate, Edward Minskoff, Beacon Capital and Jack Resnick & Sons already involved in developments in the neighborhood, it’s all happening in Hudson Square. Ellen Baer, president of Hudson Square Connection, spoke with The Commercial Observer last week about how the streetscape improvement plan and rezoning fit together and the vision for Hudson Square’s future. 

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Lease Beat

Financial Printer Signs Hudson Square Relocation

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Command Financial Press has signed a new 28,484-square-foot lease at Trinity Real Estate’s 345 Hudson Street in Hudson Square – a relocation from its current offices located just blocks away at one of Trinity’s other properties.

The provider of financial printing solutions signed a 15-year lease for half of the fourth floor of the building Read More

2013 Owners Manual

Jason Pizer, Trinity Real Estate

Favorite charity? 

Doctors Without Borders.

Real estate prediction for 2014? 

2013 has been healthy, occupancy and rents have a had steady climb up for us, and I expect more of the same in 2014.

Where in New York is there still untapped potential for real estate development? 

I don’t believe there are any undiscovered neighborhoods, Read More

Lease Beat

Accenture Signs on in Hudson Square

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Management consulting firm Accenture LLP has signed a 10-year, 9,926-square-foot lease for a portion of the second floor at Trinity Real Estate’s 155 Avenue of the Americas. Asking rents at the property are in the mid-$50s per square foot.

“We are delighted that a Fortune 500 firm of this stature has chosen Hudson Square for this significant corporate expansion,” said Jason Pizer, president of Trinity Real Estate, in a prepared statement. “The area has grown tremendously, attracting many traditionally midtown-headquartered firms that desire new space in our 24/7 community.”

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Lease Beat

New York Media Signs Direct Lease at One Hudson Square

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The publisher of New York magazine, New York Media LLC, has signed a 10-year, 80,500-square-foot direct lease at Trinity Real Estate’s One Hudson Square, where asking rents are $65 per square foot.

The media company will remain on the building’s entire fourth floor, which it had previously leased under an assignment from another tenant, according to Charles Laginestra of Trinity Real Estate. When that lease expired, New York Media signed a direct lease at the property. Read More

Lease Beat

Digital Video Company Expands in Hudson Square

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Splashlight Photographic and Digital Studios has signed a five-year lease for 14,000 square feet at Trinity Real Estate’s 225 Varick Street, it was announced today.

The company also occupies 63,000 square feet on the third floor of Trinity’s 1 Hudson Square. Asking rents for 225 Varick are $45 per square foot. Read More

Hudson Square

Hip To Be Square: Only Thing Slowing Leasing Activity in Hudson Square is Lack of Space

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Perhaps better known as the gateway to the Holland Tunnel, the burgeoning Midtown South submarket Hudson Square has, in recent years, begun to attract the type of creative tenants that in previous years flocked to neighboring Chelsea and NoMad.

Dominated largely by Trinity Real Estate, with its centuries-old real estate tradition, the market’s other owners have started to cater their properties to an exciting new breed of tenant, and a neighborhood improvement plan is not far behind. Read More

The Sit-Down

Let There Be Real Estate: Trinity Real Estate President Jason Pizer on tending Queen Anne’s Assets

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Trinity Church boasts over three centuries of landownership in New York City, dating back to 1705, when Queen Anne gave a 250-acre land grant in what is now Hudson Square to the parish. Bounded by Greenwich Street to the west, Avenue of the Americas to the east, Houston Street to the north and Canal Street to the south, Hudson Square has more recently benefited from Midtown South’s increasing popularity with the creative class. Jason Pizer, president of Trinity Real Estate, spoke with The Commercial Observer last week about Trinity’s presence in the market, the evolution of Midtown South and the future of Hudson Square as rezoning stands to revitalize the neighborhood once again.

Read More

Lease Beat

Pepsi Leases First Manhattan Office Space

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PepsiCo has signed a five-year lease for 19,800 square feet on the second floor of 350 Hudson Street, it was announced today. It will be the food and beverage company’s first office space in Manhattan.

Asking rents in the building are currently $58 per square foot, according to Jason Pizer, president of Trinity Real Estate, the landlord. Asking rents are up from the time the Pepsi lease was signed, he added.

The building at 350 Hudson Street, completed in 1927, is owned by Trinity Real Estate. The nine-story, 335,066-square-foot building’s tenants include PR Newswire. The building also incorporates ground floor retail space for Pret-a-Manger and Hale & Hearty Soups, among others. Read More

Lease Beat

iN DEMAND Renews at 345 Hudson Street

Courtesy of Trinity Real Estate

iN DEMAND has renewed their lease in Hudson Square.

The entertainment company will continue to occupy their 50,000 square foot office in Trinity Real Estate’s 345 Hudson Street. The company is known for being a leader in providing transactional entertainment through television, such as Video on Demand (VOD) and Pay Per View (PPV). Read More

Lease Beat

Adidas Lands at Hudson Square

Adidas will set up a showroom at 435 Hudson Street in Manhattan (photo: oct on Flickr)

International athletic apparel company, Adidas, signed a 10-year, 15,220-square-foot lease at Trinity Real Estate’s 435 Hudson Street. The space will be used by the company’s US-based marketing team as a showroom and event venue.

The asking price was $65 per square foot.

The new location is a relatively short walk from Adidas’ other location at Read More