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Lease Beat

Lease Beat

Hedge-Fund Firm Renews Lease with Outdoor Space at 632 Bway

632 Broadway in 1929.

Investment firm Serengeti Asset Management has renewed its lease, which includes a 3,000-square-foot private roof deck, at 632 Broadway.

The company, with a $1.5 billion portfolio of debt and equity investments under its management, occupies 11,750 square feet of indoor space spanning the entire 12th floor at the building, which is between East Houston and Bleecker Streets. The new top-floor lease expires April 30, 2019, said Nora Stats of Coldwell Banker Commercial (CBC) Alliance, who represented both Serengeti and the landlord, Renaissance Properties, in the transaction. The original lease was for seven years. Read More

Lease Beat

Eastern Consolidated Expands at 355 Lexington

355 Lexington Avenue

Manhattan-based full-service real estate investment services firm Eastern Consolidated is augmenting its team and has taken an additional 4,000 square feet at 355 Lexington Avenue to accommodate the growth, Commercial Observer has learned.

The new offices in the 22-story Rudin Management building will be on the fifth floor and will house 30 brokers and support staff. The company’s current digs span 15,000 square feet on the 11th floor in the building, between 40th and 41st Streets. The new offices are in move-in ready condition and Eastern Consolidated will occupy the new space next month. Both leases expire in three years. Read More

Lease Beat

Modeling and Acting School Moving to 1384 Broadway [Updated]

1384 Broadway. ( PropertyShark)

Lion Management Group has signed a 10-and-a-half-year lease for the entire 9,538-square-foot 17th floor of 1384 Broadway, Commercial Observer has learned. The entity that will operate out of the space is the Barbizon School of Modeling and Acting.

The tenant will pay rent starting in the low-$40s per square foot and is expected to relocate from its space at the New Yorker hotel at 481 Eighth Avenue sometime during the month of May. Read More

Lease Beat

Berkley Insurance Expands at 757 Third Avenue

757 Third Avenue.

Berkley Insurance Company has expanded its presence at RFR Realty’s 757 Third Avenue by 5,080 square feet, Commercial Observer has learned.

The tenant, a principal reinsurance subsidiary of the W.R. Berkley insurance firm, now occupies a total of 42,533 square feet on the 10th and 11th floors of the building. Previously, the company had consolidated its Midtown and Downtown offices into 37,452 square feet at 757 Third Avenue. Read More

Lease Beat

Haifa-Related Non-Profit Opening in FiDi

80 Broad Street

The American Society of the University of Haifa is setting up shop at 80 Broad Street, Commercial Observer has learned.

The non-profit organization, which promotes American-Israeli interests and values by serving as the bridge between the University of Haifa and Israel-minded Americans, is taking 2,305 square feet on a portion of the 21st floor. The lease is for seven years in the building, which is between Stone and Beaver Streets. Read More

Lease Beat

Jeweler Paul Morelli Takes Prime Madison Avenue Space

Paul Morelli. (Credit: paulmorelli.com)

Paul Morelli will be opening his first New York store after signing a 10-year lease for a two-level space at 895 Madison Avenue. 

The jeweler, a presence at luxury goods department store Bergdorf Goodman since 1981, will occupy a 728-square-foot ground floor space and a 1,221-suare foot basement, with 40 feet of frontage across from Ralph Lauren’s New York flagships. Read More

Lease Beat

SL Green Signs 17 Deals at the Graybar Building

Graybar Building.

SL Green has signed 17 leases totaling over 86,000 square feet at its 420 Lexington Avenue property in recent weeks, according to The New York Post. The tower, also known as the Graybar Building, is now 95 percent leased.

Leading the way was a 19,682-square-foot expansion for Pride Technologies LLC and Pride Global Finance, the Post reported. Pride Global, a private equity holding company, operates Pride Technologies, an information technology company. Read More

Lease Beat

Datagram Adds Office at Intergate.Manhattan

375 Pearl Street.

Internet hosting provider Datagram has added a 5,200-square-foot “mission-critical” office space at Intergate.Manhattan at 375 Pearl Street, landlord Sabey Data Centers announced today.

Datagram, an existing data center tenant in at the facility, is the first office tenant at Intergate.Manhattan. The tenant signed the lease in January and is expected to occupy the new space beginning in July. Read More

Lease Beat

Three New Retail Deals at Brookfield Place

An interior rendering of the retail space slated for Brookfield Place.

J. Crew, Paul Smith and Posman Books have all signed leases at Brookfield Place, leaving the retail portion of the renovated property about 85 percent leased, The Wall Street Journal reported.

Posman Books will open its fourth location in a 2,000-square-foot space at the development. The bookseller also operates shops in Grand Central Terminal, Chelsea Market and Rockefeller Center. J. Crew is expected to open a 6,859-square-foot store, while English designer Paul Smith’s location will be approximately 2,555 square feet. Read More

Lease Beat

Veracen Partners Among Pack of New Leases at 250 West 55th Street

250 West 55th Street. (Credit: New York Yimby)

Veracen Partners is among a set of several new tenants to take space at Boston Properties250 West 55th Street, signing a 10-year, 11,263-square-foot lease for a portion of the 16th floor at the 38-story tower.

CBRE, which represented the landlord, announced the lease concurrently with a 7,196-square-foot deal with RTW Investments & LifeSci Capital and a 4,806-square-foot Coltrane Asset Management lease. All three firms will occupy the 16th floor of the building, which features new high-end prebuilts designed by Gensler, with 10-foot ceilings and perimeter offices. Read More

Lease Beat

J. Crew Paying $90PSQ Plus $3.5M in Improvements for W’burg Store

234-236 Wythe Avenue.

Global apparel chain J. Crew has signed a 6,000-square-foot lease in Williamsburg at $90 per square foot and has agreed to pay millions of dollars in significant improvements to the property, a source with knowledge of the deal told Commercial Observer.

The New York-based chain is bowing in a single-story warehouse building at 234-236 Wythe Avenue, near North 4th Street. There is speculation that the retailer will build a multi-level store as it did in Cobble Hill. Read More

Lease Beat

Main Street Hub Signs Lease at 1407 Broadway

1407 Broadway.

Austin, Texas-based marketing platform developer Main Street Hub has signed a long-term lease for the entire 13,700-square-foot 26th floor of The Lightstone Group’s 1407 Broadway, Commercial Observer has learned.

The landlord is currently renovating the building and has been actively courting tech and media tenants. As previously reported, Techstars, a startup accelerator, signed a lease for the entire 24th floor at 1407 Broadway earlier this year. Read More