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Lease Beat

Lease Beat

French Clothing Line Expands to Upper West Side

241 Columbus Avenue.

A French apparel brand is setting up its second New York City shop on the Upper West Side, Commercial Observer has learned, and is slated to open in September.

Paris-based IRO has inked a 10-year lease with the owner of 241 Columbus Avenue for 1,560 square feet on the first two floors of the building. The deal includes 860 square feet on the ground floor and 700 square feet on the lower level. Read More

Lease Beat

Structural Engineering Firm Relocates Within Garment District

519 Eighth Avenue.

Rosenwasser/Grossman Consulting Engineers, the structural engineering firm that has worked on scores of residential projects in New York City, now has a new home of its own.

Commercial Observer has learned that the company has signed a 10-year lease for 8,000 square feet at the Kaufman Organization’s 519 Eighth Avenue between West 35th and West 36th Streets. RGCE will occupy the 20th floor. Read More

Lease Beat

Sister PR Firms Moving to Combined 10K SF in Midtown South

276 Fifth Avenue.

The Manhattan-based subsidiaries of Mineola, N.Y.-based Didit, an integrated marketing communications firm, will be moving to a shared 10,000 square feet in Midtown South, Commercial Observer has learned.

Didit signed a single 10,000-square-foot lease for its public relations companies LVM Group and Bridge Global Strategies, at 276 Fifth AvenueEVO Real Estate Group announced. The firms will share the space on the second floor of the 11-story, 200,000-square-foot commercial building at West 30th Street owned by 276 Managers LLC, a group that includes The Kash Group. Read More

Lease Beat

Global Asset Management Firm Moves to East 49th Street

12 East 49th Street.

Black River Asset Management is moving to 12 East 49th Street in the Plaza District.

The company secured 8,846 square feet on a portion of the 37th floor as part of a 10-year lease at the property, Commercial Observer has learned. Black River, an asset manager for institutional investors, will share the space with Cargill Risk Management, which structures and markets over-the-counter risk management products on agricultural and energy commodities (Black River and Cargill Risk Management are subsidiaries of Cargill, the food and agricultural giant). Read More

Lease Beat

Avenues World Holdings Expands Footprint in NoMad

11 East 26th Street.

Avenues World Holdings, the company behind the for-profit Avenues: The World School, has renewed and expanded the lease for its headquarters at 11 East 26th Street, The Wall Street Journal reported.

The 12-year lease is for 12,083 square feet on both the 16th and 17th floors of the office building, for a total of 24,166 square feet, according to The Journal. The company is currently based in 10,000 square feet of office space at the property, which sits between Fifth and Madison Avenues. Read More

Lease Beat

Byredo Opening First U.S. Boutique in Soho

476 Broome Street (Image: Winick Realty Group marketing materials)

Stockholm-based Byredo, which Racked called a “cult fragrance brand,” is bringing its signature scents and new body care products and leather accessories lines to the United States by way of Soho.

Byredo, which is sold at Barneys, signed a 1,300-square-foot ground-floor lease (plus 250 square feet for storage in the basement), at South Florida billionaire Jeff Greene‘s condominium conversion project at 62 Wooster Street between Spring and Broome Streets, sources told Commercial Observer. The asking rent in the 10-year deal was $300 per foot, one of the sources said. Read More

Lease Beat

The Marshall Project Doubles Its Office Size

The Marshall Project expects to relocate to the CitySpire Center in Midtown next month.

The Marshall Project, the nonpartisan news organization focused on covering the country’s criminal justice system, has doubled the size of its office to 8,000 square feet at the CitySpire Center in Midtown.

According to CBRE, the Marshall Project has signed a five-year lease for part of the seventh floor at Tishman Speyer’s 156 West 56th Street between Avenue of the Americas and Seventh Avenue. The organization is expected to move into its new space next month from 250 West 57th Street, only blocks away from the CitySpire Center, where it now occupies roughly 4,000 square feet. Read More

Lease Beat

Bath & Body Works Inks 50K-SF Soho Office Renewal

503 Broadway (Photo: CoStar).

Limited Brands has renewed a roughly 50,000-square-foot lease for its Bath & Body Works personal care products brand in Soho, Commercial Observer has learned.

The 10-year renewal at 503 Broadway spans the entire fourth and fifth floors, said Eric Cagner of Newmark Grubb Knight Frank, who along with colleague David Falk represented the landlord, Hang Seng Realty, in the deal. CBRE‘s Eric Deutsch negotiated on behalf of the Limited. The asking rent in the building was around $80 per square foot, Mr. Cagner said. Read More

Lease Beat

Rockrose Moves Into Its Madison Square Park Building

The lobby at 15 East 26th Street .

Rockrose Development Corp. has moved its offices to a commercial condominium the developer owns along Madison Square Park, Rockrose President Justin Elghanayan told Commercial Observer. Gerner Kronick + Valcarcel, Architects designed the new space.

“The office has exposed ceilings, looks directly onto Madison Square Park and onto the Flatiron Building,” Mr. Elghanayan said. “It’s an airy, open design that’s consistent with our corporate culture and history of developing loft buildings. We have a large kitchen/dining area that adjoins our conference space on the park.” Read More

Lease Beat

LongTail Ad Solutions Expands at 8 West 38th Street

8 West 38th Street.

LongTail Ad Solutions signed a seven-year, 3,602-square-foot expansion lease at 8 West 38th Street, bringing the company’s total space in the Fraglow Realty building to 15,352 square feet, Commercial Observer has learned. The asking rent was $49 per square foot.

“It’s a boutique side street building with huge windows, exposed ceilings, hardwood floors and priced right,” said Scott Brown of Newmark Grubb Knight Frank via a spokeswoman. He represented the tenant. “The company has been in the building less than a year, so it is exciting to see it grow in such a short amount of time.” Read More

Lease Beat

Changes Afoot for Change.org as It Relocates From FiDi

118 West 22nd Street.

Change.org is moving from its offices in Lower Manhattan to Midtown South, Commercial Observer has learned.

The start-up, which mobilizes support for social causes through online petitions, has taken 7,500 square feet on the entire top floor at Adlie Associates‘ 12-story 118 West 22nd Street between Avenue of the Americas and Seventh Avenue, more than doubling the space at its current digs at 64 Fulton Street. Read More

Lease Beat

Starbucks Opening Empire State Building Location for Deliveries

Empire State Building.

Starbucks Coffee addicts will now be able to have their beverages delivered to their front door through a new delivery service set to launch in New York City at the Empire State Building, the coffee giant announced at yesterday’s annual shareholders meeting.

On Monday, Starbucks signed a lease for 1,173 square feet on the West 33rd Street side of the Empire State Building at 350 Fifth Avenue, the second lease Starbucks has in the building, a spokeswoman for Empire State Realty Trust, which owns the building, told Commercial Observer. The new lease is for 10 years and the asking rent was $200 per square foot.  Read More

Lease Beat

Capital One Teams Up With Food Retailer in Union Square

Rendering of 853 Broadway.

The Feil Organization inked a new 10-year lease with Capital One for 15,000 square feet of retail space across three floors of 841-853 Broadway in Union Square, a person familiar with the matter told Commercial Observer.

The bank teamed up with an undisclosed food retailer to roll out “a new store within a store concept” at the roughly 260,000-square-foot property, that person said on the condition of anonymity. Read More