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Lease Beat

Lease Beat

Law Firm Relocating to 250 West 55th Street with 30k Square Feet

250 West 55th Street.

It looks like yet another law firm is headed for 250 West 55th Street.

Watson Farley & Williams has inked a deal for 30,400 square feet for a floor-and-a half at the 38-story building, according to CBRE. The firm is relocated from 1133 Avenue of the Americas and expanding its size in the 15-year lease. Lawyers, paralegals and staffers will occupy part of the 30th floor and the whole 31st floor in the deal. Read More

Lease Beat

Law Firm Relocates South Along Madison Avenue [Updated]

477 Madison Avenue.

Rivkin Radler, a Long Island-based law firm, has relocated its Manhattan office to the whole 20th floor of 477 Madison Avenue between East 51st and East 52nd Streets, Commercial Observer has learned.

The firm was looking to move into a larger space from its current office at 555 Madison Avenue between East 55th and East 56th Streets, according to a press release from Avison Young. While the brokerage declined to provide terms of the lease, Rivkin Radler is taking nearly 8,200 square feet in an eight-year deal, according to CoStar. Read More

Lease Beat

Engineering Consultant Expanding to Over 16K SF in NoMad

105 Madison Avenue (Photo: CoStar).

Bard, Rao + Athanas Consulting Engineers is growing its footprint to 16,600 square feet from 13,350 square feet at A&R Real Estate‘s 105 Madison Avenue at East 30th Street, Commercial Observer has learned.

BR+A renewed its existing lease on the entire 10th floor of 105 Madison Avenue and expanded into a portion of the ninth floor, according to Newmark Grubb Knight Frank, which represented both sides in the 10-year deal. The asking rent was $62 per square foot. Read More

Lease Beat

Serafina Opening Eatery in Tribeca

113 Reade Street (Photo: CoStar).

Serafina Restaurant Group is opening a restaurant in Tribeca with plans to provide room service to hotel guests staying at the adjacent Cosmopolitan Hotel-Tribeca, Commercial Observer has learned.

The restaurant group, which specializes in Northern Italian cuisine, has signed a lease for the entire 5,400-square-foot building at 113 Reade Street between Reade and Chambers Streets, including the rooftop. The building offers 1,800 square feet each on the ground floor, second floor and basement, according to RKF, which represented the landlord, Triumph Hotels, in the deal. Triumph is also the owner of the Cosmo hotel which is next to 113 Reade Street on West Broadway.  Read More

Lease Beat

Shake Shack Opening Burger Joint in Queens Center Mall

Shake Shack burgers

Shake Shack is upping its game in Queens.

While this might be the third location in the borough for the fast-casual burger joint in the borough, it’s the first in which you don’t need some sort of ticket before even getting online. Shake Shack is slated to open a location on the ground floor of the Queens Center Mall, DNAinfo reported, and will start serving burgers, fries and milkshakes sometime in 2016. Read More

Lease Beat

SoundCloud Relocating Within Flatiron District

50 West 23rd Street.

SoundCloud is moving its New York offices to 43,600 square feet in 50 West 23rd Street .

The Berlin-based company inked a deal for five years in the Flatiron District building owned by Two Trees Management Company, according to The Wall Street Journal, for two floors in the building. SoundCloud, a platform for music and audio sharing, is moving from 111 Fifth Avenue between East 18th and East 19th Streets. Read More

Lease Beat

FAO Schwarz Wrapping Up Negotiations for Xmas 2016 Opening in Times Square

Rendering of 1633 Broadway (Image: marketing materials).

Iconic toy store FAO Schwarz is in serious negotiations to move its flagship from Fifth Avenue to a smaller, sleek space in the Crossroads of the World, Commercial Observer has learned.

On July 15, the oldest toy company in the country will be vacating the General Motors Building at 767 Fifth Avenue—its home for nearly 30 years—due to a significant rent increase, the company has said. Sources with intimate knowledge of the deal told CO that the new store is slated to open at the base of Paramount Group‘s 2.5-million-square-foot office tower at 1633 Broadway between West 50th and West 51st Streets, just in time for the 2016 Christmas season. Read More

Lease Beat

Gap and Old Navy Find Side-by-Side Homes in Times Square

1514 Broadway.

Gap Inc. inked two new retail leases on Thursday night for about half of the monster-sized space occupied by Toys ‘R’ Us in Times Square, the landlord’s broker told Commercial Observer, in a deal that includes building a third floor for Old Navy.

The Gap snagged 6,000 square feet on the ground floor, 25,000 square feet below grade plus the signage on the roof at the Bow Tie Building at 1514 Broadway between West 44th and West 45th Streets. Old Navy has taken 6,000 square feet on the ground floor to the north of the Gap, 17,500 square feet on the second floor—and also, the clothing company will be building a 17,500-square-foot third floor, C. Bradley Mendelson of Cushman & Wakefield exclusively told CO. Read More

Lease Beat

DraftKings Heads to 400 Lafayette Street

400 Lafayette Street.

Fantasy sports site DraftKings has inked a deal for new office space at 400 Lafayette Street, in one of two leases signed this week at the building.

The Boston-based company is taking about 23,500 square feet in a five-year lease, according to landlord’s broker ABS Partners Real Estate. DraftKings will be on the fifth floor, according to The Real Deal, which first reported news of the deal. Read More

Lease Beat

Café Chain Stolle Signs First Brooklyn Deal

Stolle is taking the part of Tio Pio's space at 119 Court Street outlined in yellow.

Nearly three months after announcing it would be opening its first U.S. location in Long Island City, Russian pie-maker Stolle reveals it’s heading to Brooklyn, too.

Commercial Observer has learned that Stolle has signed a sublease for part of Tio Pio‘s space at 119 Court Street at the corner of State Street in Downtown Brooklyn. The pie company, which will open in September, took 500 square feet of ground-floor retail space in a 10-year deal. The asking rent was $250 per square foot, according to Winck Realty Group. Read More

Lease Beat

Nine West Subleases to Republic Clothing Group

1411 Broadway.

Republic Clothing Group is slipping into a pair of Nine West Holdings floors at 1411 Broadway, The New York Post reported.

The fashion company is subleasing about 55,500 square feet on the 34th and 35th floors of the tower between West 39th and West 40th Streets. Republic Clothing Group won’t have to move far, however, since it’s currently housed across the street at 1440 Broadway, according to the Post.   Read More

Lease Beat

Ralph Lauren Expands Its Fabric at Starrett-Lehigh

The Starrett-Lehigh Building.

Ralph Lauren is increasing its waist size at RXR Realty’s Starrett-Lehigh Building.

The high-end designer is upping its foothold by 60,000 square feet so it and a subsidiary can spread out in the building, Crain’s New York Business reported. Ralph Lauren and Club Monaco, the offshoot brand, now have more than 100,000 square feet at the 20-story structure officially at 601 West 26th Street at the corner of 11th Avenue. Read More

Lease Beat

Frisco Flash Storage Firm Finds Flat for Itself at 655 Third Ave.

655 Third Avenue.

Nimble Storage, a San Francisco-based flash storage solutions firm that consolidates workloads and eliminates storage silos, is coming to New York City, Commercial Observer has learned.

The firm has signed a three-year lease for 6,609 square feet on the ninth floor at 655 Third Avenue between East 41st and East 42nd Streets, according to the building owner, The Durst Organization. The length of the lease is so short because “it’s a rapidly growing company and they want the option to expand,” said a spokesman for Durst. The asking rent was in the high-$50s per square foot. Read More

Lease Beat

Barneys Settles into LIC Space

5-25 46th Avenue.

Barneys New York has moved some of its visual operations to 5-25 46th Avenue in Long Island City. The high-end fashion company has leased 10,000 square feet at the building between Fifth Street and Vernon Boulevard, according to The Real Deal, which first reported news of the lease.

Asking rent in the 46,000-square-foot building is $35 per square foot, TRD reported. Read More