On the heels of news that Yahoo will buy Tumblr for $1.1 billion, the Web giant is moving to the former home of The New York Times, the firm announced today.
Yahoo signed a long-term lease for the 9th through 12th floors in the 15-story building, joining tech tenants 10gen and Citysearch in the building.
“For a while Read More
The global IT and communications services provider Orange Business Services will be leaving the Financial District, The Commercial Observer has learned.
The firm has been operating out of a suite at 2 World Financial Center but will be moving uptown to centralize their offices inside a 17,000-square-foot, full-floor space at 10 East 40th Street,.
“As a communications service provider that caters to Read More
The New York-based development and construction firm Wonder Works Construction will be leaving its offices in Flatiron to move to Herald Square.
The firm currently houses its main office in a 5,000-square-foot office on the fourth floor of 18 West 21st Street, but will move out in favor of a larger 8,000-square-foot suite at Sol Goldman Investments’ 894 Sixth Avenue. Read More
ASA College has signed a long-term lease expansion for nearly 160,000 square feet at the Herald Center in Herald Square, paving the way for a separate 50,000-square-foot retail flagship opportunity.
The college will vacate the first three floors of the 10-story, 245,000 square-foot mixed-use property, doubling its existing space to 112,000 square feet in a Read More
Boutique financial services firms have recently secured over 20,000 square feet at 540 Madison Avenue, where asking rents range from $80 to over $100 per square foot.
“Boutique financial firms are still the sweet spot for the building,” Cynthia Wasserberger of Jones Lang LaSalle, told The Commercial Observer. The majority of the spaces at the property are prebuilt or that the landlord, Boston Properties, is building for the tenant. Read More
Lenox Hill Hospital/North Shore-Long Island Jewish Health System has signed a 15-year renewal for 70,434 square feet at 110 East 59th Street. Asking rents were in the $70s.
“They had a lease that had a little bit of term left to go, but they want to do some work in the space, so they just wanted to put a little bit more term on the lease,” Dennis Brady, executive managing director at Jack Resnick & Sons, the landlord, told The Commercial Observer. Read More
The American Institute of Chemical Engineers has signed a long-term, 16,506-square-foot lease at Silverstein Properties’ 120 Wall Street, it was announced today.
“After a two-year search of both Midtown South and Downtown, which included inspections of over 50 properties, AIChE elected to relocate to 120 Wall Street, one of the few buildings to provide an incentive program for not-for-profits,” said Leon Manoff, vice chairman at Colliers International, who represented the tenant, in a prepared statement. Read More
Real estate investment and private equity firm World Class Capital has signed a lease for 2,723 square feet at Boston Properties’ 540 Madison Avenue, where asking rents range from $80 to $90 per square foot.
“They were looking to open up a New York office that reflected their business model,” Gabe Marans of Studley, who represented the tenant, told The Commercial Observer. “They wanted to be in a boutique building that had easy access to transportation and that was centrally located on the island.” Read More
Sister companies Aerotek and TEKsystems have signed 10-year leases for 13,551 square feet and 15,115 square feet, respectively, at RFR Realty’s 757 Third Avenue, it was announced today. Asking rents at the property range from the low $50s to low $60s per square foot and the total value of the transaction is over $16 million, according to a press release.
“The RFR team always works hard to provide the best services and amenities that attract and retain the best quality tenants,” said Aby Rosen, co-founder and principal at RFR, in a prepared statement. “That’s the secret of our success here and throughout the RFR portfolio.” Read More
Three art and design tenants have signed significant five-year leases at Industry City in Sunset Park.
Next Door’s, a photography studio, will move into 11,601 square feet at 67 34th Street and use the space for production and art fabrication. Sebastian Errazuriz Studio inked a deal for 8,180 square feet in 32 33rd Street in the complex. And McConnell & Borrow Inc, a set designer and prop provider, signed for 6,206 square feet at 88 35th Street. Read More
LeadDog Marketing Group has signed a 10-year, 24,929-square-foot lease at 440 Ninth Avenue. Asking rents were $45 per square foot.
“It was the right balance; nicer than what we currently have, but not super corporate,” Donna Providenti, chief operating officer at LeadDog, said of the space. “We are coming from old loft spaces that aren’t really suited for office use.” Read More
The West Village-based Joffrey Ballet School will take up the first two floors of developer Gregg Singer‘s controversial 500-bed dormitory at 605 East Ninth Street.
Joffrey inked a deal with the ownership of what will be called University House for about 120 beds in the Alphabet City building. It will pay about $1,550 and $1,650 per month per bed, reports The Wall Street Journal. Read More
Century Management Services, a residential property manger, has signed a lease for 11,373 square feet on the 15th floor at 440 Ninth Avenue, where asking rents are $45 per square foot.
“The tenant was looking for a strong landlord, one that had a reputation of working with their tenants in a partnership,” Gregg Lorberbaum, principal at Centric Real Estate Advisors, who represented the tenant, told The Commercial Observer. Read More
LH Financial has signed a 10-year, 6,553-square-foot lease at 510 Madison Avenue, where asking rents start at $100 per square foot, The Commercial Observer has learned.
“[The firm's current] layout and configuration are no longer conducive to their business and operations,” said Lance Leighton, assistant director at Studley, who represented the tenant. “As a result, they wanted to find a space that was more efficient for the firm.” Read More
Insignia National Title Agency, a boutique provider of title insurance, will nearly triple its office space in an expansion and relocation uptown, officials told The Commercial Observer.
The company will move to a new 5,600-square-foot office space on the seventh floor of 6 East 39th Street, otherwise known as the Craftsman Building, between Madison and Fifth Avenue in Midtown. Read More
