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Lease Beat

Lease Beat

Sportswear Holdings Leases Space at 9 West 57th Street

9 West 57th Street.

Sportswear Holdings Ltd., a investment firm that recently sold its roughly $900 million share in Michael Kors, has leased 20,000 square feet at 9 West 57th Street between 5th and 6th Avenues.

First reported by Crain’s New York Business, the Hong Kong-based company founded by billionaires Lawrence Stroll and Silas Chou is taking space on two floors that include views of Central Park. The company will occupy 5,000 square feet on the 50th floor, the building’s highest, and 15,000 square feet on the 49th floor. Read More

Lease Beat

Education Tech Company Expands in Flatiron District

100-104 Fifth Avenue. (Clarion Partners)

Knewton education technology company has expanded by 14,700 square feet to 31,000 square feet in the Flatiron District, the New York Post reported.

The education company, which personalizes digital courses, already occupied the entire eighth floor in the Clarion Partners building at 100-104 Fifth Avenue between West 15th and West 16th Streets. The firm will now also have 10,500 feet on the seventh floor as well as 4,200 feet on the 20th floor, the latter which has an outdoor terrace. Read More

Lease Beat

Harbinger Group Leases Soho Space

64 Wooster Street.

Publicly traded holding company Harbinger Group has landed a new lease in Soho, Commercial Observer has learned.

The company, which is run by hedge fund manager Philip A. Falcone and is an affiliate of the hedge fund Harbinger Capital Partners, took 6,000 square feet on the third floor of Zar Property‘s 64 Wooster Street between Broome and Spring Streets, according to sources with knowledge of the deal. Read More

Lease Beat

Urban Compass Doubles its Space in the Flatiron District

90 Fifth Avenue

Technology-centered residential real estate brokerage Urban Compass has doubled its floors and square footage at RFR Realty‘s 90 Fifth Avenue after officials at Urban Compass discovered that the 25,000 square feet it leased this past summer wouldn’t suffice for its growing staff.

The company’s previous lease covered spaces on the third and fourth floors of the 140,000-square-foot building between West 14th and West 15th Streets, but the new deal will extend the company’s space to the fifth and sixth floors and grow its footprint onsite by an additional 25,000 square feet once Urban Compass starts moving into the space in December, RFR officials said. Read More

Lease Beat

Nonprofit Inks Lease for Subleased Space

90 Park Avenue

The John Simon Guggenheim Memorial Foundation, a nonprofit that provides research grants to scholars and artists, signed a 16-year, 13,878-square-foot lease in space it has occupied as a subtenant for nearly 50 years in Midtown East, EVO Real Estate Group announced earlier this week.

The nonprofit inked the direct lease with Vornado Realty Trust for the entire 33rd floor of the building at 90 Park Avenue where asking rents run for $85 per square foot, EVO officials said. The organization will relocate temporarily for new renovations and occupy the revamped space between East 39th and East 40th Streets in April 2015, Arnold Gamberg, an executive vice president at EVO, told Crain’s New York Business, which first reported the deal. Read More

Lease Beat

Papyrus Takes Chelsea Crumbs Location

655 Avenue of the Americas. (United American Land)

Stationery, greeting card and gift shop chain Papyrus has signed a new lease for an old Crumbs location at 655 Avenue of the Americas, Commercial Observer has learned.

The 10-year deal, which was signed last week, is for 1,372 square feet on Avenue of the Americas between West 20th and West 21st Streets, said Taryn Brandes of SCG Retail, who represented Papyrus along with SCG Retail’s Jacqueline Klinger. The asking rent was roughly $250 per square foot. Read More

Lease Beat

Salesforce Signs Five-Year Lease in Hudson Square

155 Avenue of the Americas.

Salesforce, the San Francisco-based cloud computing company, has signed a five-year lease in Hudson Square.

First reported by The Real Deal, Salesforce secured roughly 30,000 square feet for the 11th and 12th floors at 155 Avenue of the Americas at the corner of Spring Street. The property is owned by Trinity Real Estate. Other tenants in the building include Buddy Media, Accenture LLP, East Coast Digital and Mindfile Multimedia. Read More

Lease Beat

Fitness Company Dances Into New West Village Home

305 Fitness

Boutique dance workout company 305 Fitness opened at its new permanent home in the West Village last week through a lease for 1,200 square feet on the ground floor and 3,000 square feet on a lower floor at Friedland Properties18 West 8th Street.

The two-year-old fitness center, which boasts 15,000 clients in DJ-accompanied dance classes in New York City and Washington, DC, has installed a reception desk and retail area in its ground-floor space and two dance studios in the lower level of the one-story building after previously operating in temporary spaces around Manhattan, said the program’s founder Sadie Kurzban. Read More

Lease Beat

Tech Firm To Add Additional Floor in Midtown South

3 Park Avenue

Digital analytics company Return Path will expand its headquarters by an entire additional 23,000-square-foot floor at Charles S. Cohen‘s 3 Park Avenue between East 33rd and East 34th Streets in Midtown South, Commercial Observer has learned.

The company, which leased the 41st floor penthouse at the building last year, will incorporate new space in the next week or so on the 30th floor that features panoramic views, a modern finish and 14 corner offices. Return Path will operate from a 46,000-square-foot footprint at the building when it assumes occupancy and the additional floor carried asking rents of $65 per square foot, Cohen Brothers Realty Corp. officials said. Read More

Lease Beat

Immigration Law Firm to Relocate in Financial District

11 Hanover Square

The Law Offices of Grinberg & Segal will move southeast from its current location near the World Trade Center on Nov. 1 through a 10-year, 3,832-square-foot lease at the Beekman Estate‘s 11 Hanover Square at the corner of Hanover and Beaver Streets, Commercial Observer has learned.

The immigration-focused firm will expand from its current office at 111-115 Broadway into a full-floor space where asking rents ran in the mid-$30s per square foot on the 10th floor of the property, said Gabe Whitman, who represented the tenant under his eponymous brokerage. Read More

Lease Beat

Small Biz Lender Subleases in Chelsea

333 Seventh Avenue

Small business loan provider QuarterSpot has moved from the Financial District to Chelsea through an 18-month, 3,844-square-foot sublease at Samco Properties‘ 333 Seventh Avenue, Commercial Observer has learned.

The company has taken over space that the nonprofit Human Rights First organization vacated late this summer, grabbing a portion of the 14th floor of the property where asking rents ran for $30 per square foot, said Gabe Whitman, a former Cushman & Wakefield broker who started his own eponymous tenant brokerage in May. Read More

Lease Beat

Shyp Docks at Brooklyn’s Industry City

Industry City. (Industry City)

Shyp, the San Francisco-based shipping startup, signed a 10-year lease for its first permanent New York office in Brooklyn’s Industry City.

First reported by Crain’s New York Business, Shyp has already moved into its 14,000 square foot space, which is now serving as the company’s central packaging and distribution facility for New York City and the center of its East Coast operations. Read More

Lease Beat

Tech Firm Expands, Relocates to Flatiron District [Updated]

22 West 19th Street

Meal delivery service Plated will expand to a headquarters nearly three times as large as its existing footprint by relocating in December to the Kaufman Organization‘s 22 West 19th Street in the Flatiron District.

The “rapidly expanding firm that outgrew its existing 3,850-square-foot space” at 36 Cooper Square in Greenwich Village will move through a five-year, 11,000-square-foot lease at the property with asking rents in the high $50s per square foot, Kaufman officials said. Read More

Lease Beat

Healthcare Consulting Firm Picks Up New Wall Street Space

100 Wall Street.

Global healthcare issues strategy consulting firm CBPartners has rented 5,685 square feet on a portion of the second floor at 100 Wall Street, Commercial Observer has learned.

The firm, whose clients include biopharmaceutical companies, medical device companies and government health authorities, signed a seven-year new lease yesterday and plans to move in on Dec. 1, according to a spokeswoman for the building owner, Savanna. Read More