Lease Beat

Lease Beat

Cowork Space Coming to 55 Broadway in FiDi

55 Broadway., an emerging rival of WeWork for start ups to rent office space, has inked a deal for 33,000 square feet at 55 Broadway in the Financial District.

The coworking company will take up the mezzanine level of the building, part of the third floor and the entire fourth floor, as Crain’s New York Business first reported. The lease is for 13 years at the commercial of building between Rector and Morris Streets. Read More

Lease Beat

Full Floor Leased at Charles S. Cohen’s Tower 57 in Midtown

135 East 57th Street.

Algomi Corporation has signed a 10-year lease for the entire 28th floor of Charles S. Cohen’s Tower 57 at 135 East 57th Street, Commercial Observer has learned.

The company, which provides information-matching solutions for the optimization of fixed-income liquidity, is expected to move into its new 7,255-square-foot space from its current location at 41 East 11th Street later this year, according to a press release issued by the landlord. Read More

Lease Beat

Queens Brewery Inks Deal in Namesake Borough

1539 Covert Street.

Queens Brewery, which has been serving up suds out of Saratoga Springs for more than a year, is getting a more appropriate home base.

The beer-maker inked a deal for 7,200 square feet at 1539 Covert Street in Ridgewood, Queens, with plans to open its factory to the World’s Borough by Sept. 1, according to the brokers in the deal. Its factory will take up about 4,800 square feet in the building, with a 2,400-square-foot piece of land that’s slated to become a beer garden.   Read More

Lease Beat

Tattoo Parlor From ‘NY Ink’ Inks Relocation Deal in Soho

Lobby at 123 Lafayette Street (Photo: SGM Photography).

Love Hate Social Club, formerly Wooster Street Social Club, has signed a 10-year lease at Stellar Management’s 123-127 Lafayette Street between Howard and Canal Streets in Soho, Commercial Observer has learned.

The high-end tattoo parlor, which was featured on TLC’s reality show “NY Ink” took 1,356 square feet of ground-floor retail space, in a move from 43 Wooster Street between Grand and Broome Streets, Stellar Management said. The asking rent for the retail space was $150 per square foot. Read More

Lease Beat

Bloomberg, WeWork Sign Deals at SL Green Properties

315 West 36th Street.

Both Bloomberg LP and WeWork have signed enormous leases for space at two SL Green Realty Corp. properties, according to a press release issued today by the real estate firm.

Bloomberg has expanded its presence at 919 Third Avenue between East 55th and East 56 Streets. In a 15-year lease, it has taken eight floors, or 254,556 square feet at the 47-story, 1.5-million-square-foot building. In February, Commercial Observer reported that the firm had taken 150,000 square feet at the property, which is near its headquarters at 731 Lexington Avenue. For this deal, Crain’s New York Business reported that Bloomberg was paying in the mid-$50s per square foot. Read More

Lease Beat

Another Pret A Manger Comes to Bryant Park

1071 Avenue of the Americas.

Employees who work at the Bank of America Tower and around Bryant Park will soon have another lunch option; U.K. import Pret A Manger, the coffee and food-on-the-go spot that has popped up around Manhattan, has signed a deal at 4 Bryant Park.

In a new 15-year lease, the company will take 2,100 square feet on the ground level and 1,789 square feet in the basement at the property, which is also known as 1071 Avenue of the Americas. The building sits between West 40th and West 41st Streets. Read More

Lease Beat

Wall Manufacturer Joins the Observer at the Plant

321 West 44th Street (Photo: CoStar).

An architectural wall manufacturer and distributor is heading to The Plant at 321 West 44th Street, Commercial Observer has learned. Tag Wall will join the New York Observer and CO at the 228,268-square-foot Times Square office building owned by Jowa Holdings Co.

Tag Wall signed a 10-plus-year lease for 8,508 square feet on the second floor at the 10-story building, which is between Eighth and Ninth Avenues, according to JLL. The asking rents were in the high-$50s per square foot. Read More

Lease Beat

Michelin-Recommended Wasan Opening Outpost in Park Slope

440 Bergen Street (Photo: Costar)

Locally sourced Japanese restaurant Wasan, which has had a location at 108 East 4th Street in the East Village since late 2010, is coming to Brooklyn, a broker in the deal told Commercial Observer.

Toshi Koizumi signed a lease with Signa Management for 1,100 square feet on the ground floor and 700 square feet in the basement at 440 Bergen Street at Fifth Avenue, according to Colby Swartz, a broker with Suzuki Capital. He represented the landlord along with colleague Dino Mouzakitis. Mr. Koizumi didn’t have a broker in the transaction. Read More

Lease Beat

Compass Takes Another Floor at 90 Fifth Avenue

90 Fifth Avenue (Photo: RFR).

Compass, the company behind the real estate home search app, has expanded its foot print at 90 Fifth Avenue between West 14th and West 15th Streets to 63,010 square feet in less than a year, Commercial Observer has learned.

The app developer, formerly billing itself as Urban Compass, inked a deal yesterday for an additional 12,602 square feet, or an entire floor, in the Midtown South building, according to landlord RFR. It now occupies the third through seventh floors of the 11-story property, which has recently been renovated and its infrastructure upgraded. Read More

Lease Beat

Paperless Post Leaving Paper Trail With Expanded Downtown Digs

115 Broadway.

Paperless Post, which in 2013 took 15,000 square feet on part of the 18th floor at 115 Broadway using a $250,000 relocation bonus, is expanding its office space in the building to accommodate its growth, Commercial Observer has learned.

With the addition of the 19th floor, Paperless has approximately 36,000 square feet at the building, which is one of two landmarked office towers that are together called Trinity Centre (the other one is 113 Broadway), according to a spokeswoman for the technology company.​ The company expects to occupy the 19th floor in the first quarter of 2016.​ Read More

Lease Beat

Hair Club Finds New Spot Downtown

1 Exchange Plaza at 55 Broadway  (Photo: CoStar).

Hair Club for Men is growing its business as it expands its reach to 1 Exchange Plaza at 55 Broadway in Lower Manhattan, Commercial Observer has learned. It will be taking part of the 30th floor to provide hair restoration and hair replacement services to people Downtown.

“Downtown needs certain services and this hair club has a big business in Midtown and they want to expand,” said CBRE‘s Brad Gerla, who represented the landlord, private real estate investment firm Harbor Group International, in the deal. Read More

Lease Beat

Financial Institution Relocating to 10K SF at Metropolitan Tower

Metropolitan Tower at 142 West 57th Street (Photo: CoStar).

Wedbush Securities has signed a lease for 10,008 square feet on part of the fifth floor at Metropolitan Tower at 142 West 57th Street between Avenue of the Americas and Seventh Avenue, Commercial Observer has learned.

The deal is for five years and four months with a four-month rent abatement, a source with knowledge of the deal said. The tenant is relocating from 90 Park Avenue on May 1. The asking rent was $60-plus per square foot. Read More

Lease Beat

Tenant Inks Deal for Most of Aby Rosen’s 190 Bowery

190 Bowery (Photo: RFR).

The consolidation-era 190 Bowery at the corner of Spring Street has a new tenant, following Aby Rosen’s RFR purchase of the building earlier this year.

The tenant, a composite of agencies representing professionals in the fashion industry, inked an 11-year deal for 29,750 square feet, RFR announced. It will take up the second to sixth floors of the 35,617-square-foot building. Read More

Lease Beat

Cambridge in America Signs Lease at Hippodrome Building

The Hippodrome Building at 1120 Avenue of the Americas.
Cambridge in America, the organization that supports Cambridge University and its alumni on this side of the Atlantic, has signed a lease at the Hippodrome Building at 1120 Avenue of the Americas near Times Square.

The organization signed a 10-year lease for 10,281 square feet at the property, which sits between West 43rd and West 44th Streets, The Wall Street Journal reported. The organization will be moving from its current, 6,000-square-foot location at 292 Madison Avenue between East 40th and East 41st Streets, according to WSJ. Read More

Lease Beat

Ad Giant Expanding at 909 Third Avenue

909 Third Avenue.

A major advertising agency is consolidating some of its office space by inking a sublease at 909 Third Avenue between East 54th and East 55th Streets.

The Interpublic Group, one of the world’s largest advertising and marketing companies, inked a deal for 112,300 square feet, according to The Real Deal. It gives the advertising powerhouse more than 300,000 square feet in the 32-story building. Read More