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Lease Beat

Lease Beat

Thoughtbot Signs Lease in Midtown South

1384 Broadway.

Consulting firm Thoughtbot, which makes Web and mobile apps for early-stage startups, has signed a lease at 1384 Broadway between West 37th and West 38th Streets in Midtown South.

The company, which was established in Boston in 2003, will occupy 8,622 square feet for its eighth location, as it continues to grow. It plans to move into the space on May 1. Read More

Lease Beat

1 WTC Nabs More Finance, Tech Companies

1 World Trade Center. (Lauren Draper)

Two companies have inked deals at 1 World Trade Center as The Durst Organization and the Port Authority of New York & New Jersey continue to lure technology and finance firms into the Downtown skyscraper, according to the landlords.

Tinypass, an ecommerce software developer that specializes in paywalls, signed a lease for 4,936 square feet of pre-built office space in the building. Casablanca Capital, an investment advisory, inked a deal for 2,488 square feet of built-to-suit space. Both leases are for five years, the landlords announced, and both companies will be on the 46th floor.  Read More

Lease Beat

Miami Ad School Leaving Brooklyn for Queens

35-37 36th Street (Photo: CoStar).

A prominent advertising school has settled on new 11,820-square-foot digs in Long Island City, saying goodbye to Brooklyn, Commercial Observer has learned.

Miami Ad School, founded in 1993 and including a network of 14 ad schools in nine countries, signed a 10-year lease for the entire third floor at Offices at the Square at 35-37 36th Street, according to information provided by JRT Realty Group and Cushman & Wakefield. The lease was signed on March 17 with asking rents in the $40s per square foot. Miami Ad School will move in in July, according to Greg Smith, the president of JRT. Read More

Lease Beat

Marketing Agency Expands at 250 Hudson Street

250 Hudson Street.

Interpublic Group of Companies has signed a lease for an additional 4,011 square feet at Jack Resnick & Sons250 Hudson Street in Hudson Square, bringing the company’s total footprint at the property to over 50,000 square feet.

The company will take the extra space on part of the third floor at the building, the landlord told Commercial Observer, for three years. The property, which has 16 stories and is comprised of 400,000 square feet, sits at the entrance of the Holland Tunnel. Read More

Lease Beat

Specialty Goods Maker Headed for Dumbo

A rendering of the Empire Stores project. 
Photo: Studio V

A Motor City-based watchmaker is expanding its presence in the Big Apple with a new location near Brooklyn Bridge Park, Crain’s New York Business reported.

Shinola, based in Detroit with a store in Tribeca, inked a deal for 5,000 square feet at Empire Stores, according to the paper. The specialty goods maker joins eateries East Pizza and Vinegar Hill House, which both have leases at the site, which is cushioned on the Dumbo waterfront, according to Eater New York. Read More

Lease Beat

Trading Firm Moving Across Union Square

27 Union Square West.

Chimera Securities inked a deal for an entire floor at 27 Union Square West between East 15 and East 16th Streets, home to neighborhood staple the Coffee Shop, Colliers International informed Commercial Observer.

The 11,652-square-foot space is on the building’s fourth floor, which is getting a face lift before the firm moves in this summer, according to Colliers, which represented Chimera in the deal. The average asking price was $60 per square foot, brokers on both sides of the deal said. Read More

Lease Beat

Bank From Down Under Remains, Expands in Midtown

575 Fifth Avenue.

Westpac Banking Corporation is staying put at 575 Fifth Avenue and expanding to the entire floor of the building, brokers told Commercial Observer.

The Australian bank inked a 10-year renewal with the landlord, the Metropolitan Life Insurance Company, and will soon have the entire 39th floor to itself in the 40-story tower between West 46th and West 47th Streets, according to brokerage Savills Studley. Read More

Lease Beat

Mobile Ad Company Relocating Within Flatiron District in Short-Term Lease

162 Fifth Avenue.

Mobile advertising company Amobee has signed a 3.5-year lease for the 12,250-square-foot 10th floor in the Flatiron District, Commercial Observer has learned.

Amobee, which provides services for large advertisers, publishers and operators, took the short-term lease at 162 Fifth Avenue “to have flexibility, as they were unsure about the amount of growth they will have in the upcoming years,” according to a spokeswoman for ABS Partners Real Estate. Amobee will be relocating from nearby 155 Fifth Avenue between East 21st and East 22nd Streets. Read More

Lease Beat

America’s Oldest Hatmaker Renews in Garment District

411 Fifth Avenue.

The Bollman Hat Company,a designer, manufacturer and distributor of headwear and accessories, has re-signed a portion of its space at 411 Fifth Avenue between East 37th and East 38th Streets.

The 1868 hat company occupies 11,000 square feet, or the entire second floor, of the property, as well as 2,565 on the building’s 10th floor. It re-signed a seven-year lease for the 10th floor space. It uses both floors for offices and showrooms for various brands. The second-floor lease expires in 2022. Read More

Lease Beat

Men’s Dress Shirtmaker Signs Brookfield Place Lease As Complex Officially Opens

$79 men's shirts from Kamakura Shirts (Kamakura Shirts' website).

Kamakura Shirts signed a lease at Brookfield Place yesterday, the day before the Lower Manhattan complex officially opened.

The Japanese men’s dress shirt company’s 699-square-foot space is across the hall from Equinox (opened last month) and sandwiched between a women’s fashion brand that hasn’t been announced and Time Inc.‘s lobby, Edward Hogan, the national director of retail leasing for Brookfield Office Properties, told Commercial Observer during a tour of the partially complete complex yesterday. The lease is for 10 years, he said, noting that asking rents are currently $400 to $500 per square foot. Kamakura Shirts will open in about three months. Mr. Hogan negotiated the deal for Brookfield, along with Stephen Plourde of The McDevitt Company. Craig Slosberg of JLL represented the tenant.  Read More

Lease Beat

1 New York Plaza Adds to Its Lunchtime Repertoire

Naya Express in Midtown (Photo courtesy: Naya).

A fast-growing Middle Eastern food chain is heading Downtown among a cluster of other chains aimed at the lunchtime crowd, Commercial Observer has learned.

Naya Express inked a 10-year deal earlier this week for a 1,620-square-foot site at the redeveloped 1 New York Plaza, according to brokers in the lease agreement. Its neighbors include Chipotle and Starbucks, which have already set up shop, as well as the salad shop Chopped and burger joint Schnippers. Read More