Lease Beat

Rennert International Expands at 211 East 43rd Street

Courtesy of Agorafy

Rennert International is consolidating its offices in Midtown.

The foreign language education provider will move from its 10,800-square-foot floor at 211 East 43rd Street to a 25,701-square-foot layout that spans the entire second floor, half of the third floor and the entire 19th floor. The deal, set to span 10 years, comes in effort to combine several offices into one central area. Read More

Lease Beat

Sixth Tech-Related Tenant Leases at 292 Madison

292 Madison Avenue.

Technology-focused venture capital firm Greycroft Partners has taken the entire 6,035-square-foot 20th floor at 292 Madison Avenue, Commercial Observer has learned. It’s a new lease for the firm, which focuses on investments in early-stage companies, primarily in the digital media sector.

The asking rents were in the high-$50s, according to a spokesperson for the asset manager, Herald Square Properties, which oversees the property on behalf of the landlord, Marciano Investment Group. Read More

Lease Beat

Another Tech Tenant Moving Into 292 Madison

292 Madison Avenue

A fifth technology company has taken a full-floor of pre-built office space designed by the Mufson Partnership at 292 Madison Avenue, Commercial Observer has learned.

Raptor Trading, a provider of multi-asset electronic trading and risk management solutions, signed a lease for the 5,752-square-foot 22nd floor at the 41st Street building. Among the tech firms it joins is Exponential Interactive, which took the entire 11th floor in the building last year, as Commercial Observer previously reported.  Read More

Capital Improvements

$15M in Capital Improvements Slated for Midtown East Building

211 East 43rd Street

A 210,000-square-foot office Midtown East building is set to get updated common areas to “strategically attract new media and tech firms,” Newmark Grubb Knight Frank announced today. 

Capital improvements at the Meadow Properties building, at 211 East 43rd Street, include gut-renovating the lobby, common spaces and elevators; reconfiguring the floor plates; adding kitchen/cafés to each office suite; installing new bathrooms on every floor; and giving tenants their own submeters for electricity. Work started on the lobby this month. Read More

Lease Beat

Private Equity Firm Signs One Grand Central Place Lease

1 Grand Central Place

Private equity group 3i has signed a 10-year, 12,723-square-foot lease at Empire State Realty Trust’s One Grand Central Place, Commercial Observer has learned.

Founded in 1945 with £15 million of capital, today 3i boasts nearly £12 billion of assets under management. The company, headquartered in London, operates offices worldwide and will relocate its New York location to the 41st floor of One Grand Central Place from 400 Madison Avenue. Read More

Lease Beat

Kynikos Associates Expands at 20 West 55th Street

Courtesy of NY Biz

Kynikos Associates has renewed its lease at 20 West 55th Street.

Known for its early suspicion of Enron in the early 2000s, the firm will add another 10 years to its lease at the Skyline Developers-owned building. The firm will also increase its presence to encompass the entire seventh, eighth, and ninth floors for a total of 20,000 square feet. Read More

Lease Beat

Gerson Lehrman Group Consolidated in Grand Central

ALB Law Firm

Gerson Lehrman Group, the world’s largest membership-based network for professional learning and expertise, has inked a deal for a central office space in the heart of Grand Central, the Commercial Observer has learned.

The firm will be consolidating staff from its office at 850 Third Avenue and 845 Third Avenue to a new office at 60 East 42nd Street. The central office will span approximately 64,361 square feet across the entire third and fourth floors, approximately 15,000 square feet larger than the previous two offices. Read More

Lease Beat

Exponential Interactive Moving to Pre-built Space at 292 Madison Avenue

image001

Exponential Interactive has signed an 11,113-square-foot lease for the entire pre-built 11th floor at 292 Madison Avenue.

“This lease is a further testament to the successful re-positioning of the property,” said Gerard Nocera, principal of Herald Square Properties, in a prepared statement. “Madison Avenue south of 42nd Street has become one of the city’s most active hi-tech corridors and our Soho-style pre-built offices are clearly conducive to these new tenant categories.” Read More

Lease Beat

Law Firm Expands at W&H Properties’ 1350 Broadway

1350-exterior

Tarter Krinsky & Drogin LLP has signed an expansion at W&H Properties1350 Broadway, the landlord announced last week. The law firm, which moved to the building in 2007, increased its presence by 35 percent and will now occupy a total of 37,609 square feet across three floors.

“Tarter Krinsky & Drogin has been a tenant at 1350 Broadway during a period in which we have transformed the property in a $53-million, top-to-bottom upgrade program,” said Anthony Malkin, president of Malkin Holdings, which oversees the W&H portfolio, in a prepared statement. “This expansion demonstrates that we’ve delivered on our promises and ensured the highest levels of tenant satisfaction.” Read More

Lease Beat

Law Firm Signs Lease at One Grand Central Place

1 Grand Central Place

Law firm Hafetz Necheles & Rocco has signed a 10.5-year, 12,720-square-foot lease for the entire 36th floor at Malkin HoldingsOne Grand Central Place. Asking rent for the tower floor space was $59 per square foot.

“It’s a great location and very convenient, with in-building access to Grand Central Terminal,” Tom Durels, executive vice president at Malkin Holdings, told The Commercial Observer. Read More

Lease Beat

Christian Rock and Pop Company Tunes Up at 1040 AoA

Courtesy of NYRej

The company Up, an American satellite and cable television channel, has taken a 6,842-square-foot lease at 1040 Avenue of the Americas.

Originally founded as Gospel Music Channel, and later rebranded as Up TV, and then, finally, to Up, the channel focuses on Christian rock and pop and related original content. The company, which plans to enter the building in October, will be joining sister company InterMedia Outdoors, which operates a space on the 12th floor of the building. Read More

Lease Beat

Allianz Real Estate of America Relocating to One Grand Central Place

1GCP-exterior

The U.S. Real Estate arm of German insurance company Allianz is relocating to One Grand Central Place from 1114 Avenue of the Americas after signing a 10-year lease for over 7,000 square feet on the 37th floor of the W&H Properties building. Asking rents were $59 per square foot.

“We chose the location based on the competitive rent, the build out that the landlord is undertaking, the excellent light and views and the proximity to Grand Central,” Greg Taubin, executive managing director at Studley, who represented the tenant, told The Commercial Observer.

Read More

Lease Beat

FLSV Quadruples Office at 1359 Broadway

Courtesy of W&H Properties

The accounting and tax services firm FLSV Fund Administration Services will be expanding its office along the Broadway Corridor at W&H Properties’ 1359 Broadway.

Founded by four senior executives from Morgan Stanley in 1995, FLSV has expanded into three offices – in Garden City, New York, and Seattle – and more than 70 professionals. Read More

Lease Beat

LinkedIn Leases 31,196 Square Feet at Empire State Building

Looking_Up_at_Empire_State_Building

LinkedIn inked a full-floor deal for 31,196 square feet at the Empire State Building, bringing its total footprint there to 109,719 square feet.

Sacha Zarba led a team from CBRE representing the tenant. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, Malkin Properties. The social networking site became a direct tenant in the Midtown landmark in 2011, with 31,742 square feet on the 25th floor. It has since expanded to the 23rd, 24th and 39th floors. Read More