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Lease Beat

Lease Beat

Digital Marketer Expands in Chinatown

136-138 East Broadway

Interactive marketing content producer Gin Lane Media has moved into an expanded Chinatown office space through a five-year, 4,119-square-foot lease at local developer Kai Ming Chan‘s 13-floor building at 136-138 East Broadway between Rutgers Street and Pike Street, Commercial Observer has learned.

The deal for the second-floor lease at the building with asking rents of $49 per square foot has doubled the tenant’s space at the property that’s a block west of Seward Park, said Brad Cohn of Adams & Co. Read More

Lease Beat

Gawker Relocating to 114 Fifth Avenue

114 Fifth Avenue

Media company Gawker Media LLC, known for verticals Gizmodo, Jezebel, Valleywag and Deadspin, has signed a 15-year lease for 58,900 square feet spanning three full floors at 114 Fifth Avenue.

“We will be moving out of the walk-up Nolita loft space that has been our home since 2008. Earlier today, we signed a lease for three floors of 114 Fifth Avenue,” Gawker owner Nick Denton wrote in a staff memo that will go out this afternoon, and obtained by New York Observer. Gawker will have its own entrance on 17th Street. Read More

Lease Beat

Another Architecture Firm Heads to 120 Broadway

120 Broadway.

Handel Architects will be joining architecture firm Beyer Blinder Belle and Boddewyn Gaynor Architects at Silverstein Properties120 Broadway just north of Pine Street, Commercial Observer has learned.

“They basically were able to cut their rent in half by moving downtown so it’s kinda a no-brainer when you’re staring down the barrel of a $2 million or $1 million rent,” said Bertram Rosenblatt, a founding principal of Vicus Partners and Handel’s broker in the deal. “Architects are not software companies or hedge funds. They have real expenses. They don’t have insane profits. The rent really does matter.” Read More

Lease Beat

Theory Signs Lease at 2 Gansevoort Street

2 Gansevoort Street

Fashion label Theory has signed a 16-year lease for 79,000 square feet of space at 2 Gansevoort Street in the Meatpacking District.

First reported by the New York Post, the deal marks the end of any vacancies at the 199,000-square-foot landmarked building, which was previously known as 320 West 13th Street. Theory will occupy part of the ground floor of the property, as well as the entire second, third and fourth floors, and is expected to move in during the first quarter of 2015. Read More

Lease Beat

Celebrity Hairstylist Leases Space In South Williamsburg

11 Broadway

New York City-based hairstylist Nick Arrojo, who achieved fame after his appearances on reality network TLC’s “What Not To Wear,” has partnered with L+M Development Partners to lease space in South Williamsburg.

First reported by The Real Deal, the lease has been signed for space at the firm’s 11 Broadway location, which is a 35,000 square-foot mixed-use development. In early 2015, Arrojo Studio will open on the ground floor of the space and will occupy 3,400 square feet. Though L+M did not provide specific details of the lease, asking rents in the area have soared to $175 per square-foot. Read More

Lease Beat

Legal Services Firm Inks Direct Garment District Expansion

450 Seventh Avenue

Court recording and legal services firm David Feldman Worldwide will expand from a subleased space at the Kaufman Organization‘s 450 Seventh Avenue through a five-year, 6,550-square-foot lease on the fifth floor of the building that’s one block north of Madison Square Garden between West 34th Street and West 35th Street, Commercial Observer has learned.

The move that the landlords will accommodate by combining the company’s current 4,077-square-foot space with an adjacent unit at the building where asking rents run in the $50s shows the utility of the asset’s location, said Barbara Raskob, director of leasing for the Kaufman Organization. Read More

Lease Beat

AKF Group Leaving Midtown for One Liberty Plaza [Updated]

One Liberty Plaza.

AKF Group LLC, a consulting engineering firm, is relocating from its office at 1501 Broadway in Times Square to One Liberty Plaza in the Financial District.

First reported by The Wall Street Journal, AKF will occupy space on the 22nd and 23rd floors of the 54-story structure owned by Brookfield Properties. The firm signed a 16-year lease at the end of last week for 57,000 square feet of office space. Read More

Lease Beat

Colliers Inks New Tenant, Two Renewals in Nomad

1140 Broadway

Colliers International booked carpet and rug designers Tai Ping to a new long-term, 3,000-square-foot showroom lease and closed two renewals from existing tenants at the Roos and Cohen families’ building at 1140 Broadway one block north of Madison Square Park between West 26th Street and West 27th Street, Commercial Observer has learned.

Music industry support services company mtheory signed to keep its current 8,500-square-foot space on the fourth floor, while eye-wear designers B Robinson Optical will continue operating out of its 8,500-square-foot location on the 11th floor of the 16-story terra cotta structure with asking rents in the middle to high $50s per square foot where media company F+W also recently snapped up the whole 14th floor, said Colliers executive managing director Michael Joseph. Read More

Lease Beat

Financial Media Firm Books Top-Floor Times Square Office

1500 Broadway

Financial information publisher AIQ will move out of subleased space at 1500 Broadway into a top-floor space on the 33rd floor of the Tamares investment group property opposite Times Square through a 10-year, 9,297-square-foot lease, Commercial Observer has learned.

The move by the end of the year to the space with asking rents in the $70s per square foot will expand the company’s footprint in the building where it’s been operating out of a smaller subleased space; the new lease will also afford the company that’s hosting a National Financial Advisor Week event next week the opportunity to remain in an area that’s proven advantageous, said Nick Stuller, co-founder and CEO of AIQ. Read More

Lease Beat

Just Salad Opening First UWS Location

2056 Broadway.

Fast-casual chain Just Salad is opening its 16th location with its first Upper West Side eatery, Commercial Observer has learned.

“Just Salad had been looking to open on the Upper West Side for a long time,” said Charles Rapuano of Winick Realty Group in a prepared statement. “This location was perfect for them with the foot traffic from the 72nd Street subway station, the commercial activity in the area and the health-conscious residential population that frequents the nearby yoga studios, Equinox and Soul Cycle locations.” Read More

Lease Beat

Empire State Building Gains New Tech Tenant [Updated]

Empire State Building

BrightRoll, a video advertising platform, has become the latest TAMI (technology, advertising, media and information) company to take up residence in the landmark Empire State Building at 350 Fifth Avenue.

First reported by the New York Post, BrightRoll will move from its previous headquarters at 330 Fifth Avenue to the 55th floor of the celebrated skyscraper, and will spread across 26,286 square feet. Read More

Lease Beat

Hunt Companies Relocates NYC Office to 230 Park

230 Park Avenue.

Hunt Companies, a Texas-based privately-owned investor, developer and manager of real estate assets, yesterday signed a direct lease for Deutsche Bank‘s 20,643 square feet of office space at 230 Park Avenue, Commercial Observer has learned.

At the end of the year, the firm will relocate its Hunt Mortgage Group from 100 Church Street in Lower Manhattan to the entire 19th floor at the 34-story former Helmsley Building, which is between 45th and 46th Streets. Read More