Topic:

Lease Beat

Lease Beat

Financial Services Company Relocating to 555 Fifth Avenue

555 Fifth Avenue.

Merchant banking firm The Chart Group has signed a seven-year lease for a 6,973-square-foot space at 555 Fifth Avenue at the corner of 46th Street, Commercial Observer has learned.

The Chart Group, founded in 1994 to sponsor alternative investments and provide advice and capital access to corporate clients, will be relocating from 75 Rockefeller Plaza later this month, ATCO Properties & Management, the owner of 555 Fifth Avenue, indicated in a release to CO. Read More

Lease Beat

Two New Deals Signed at 105 Madison Avenue

105 Madison Avenue.

Structural engineering firm GACE Consulting Engineers has signed the larger of two new leases at 105 Madison Avenue, Commercial Observer has learned.

The tenant has signed a 14.5-year deal for the entire, 13,350-square-foot sixth floor of the building. The firm will relocate from its current headquarters at 31 West 27th Street between late October and mid-November of this year, according to Paul Davidson of Newmark Grubb Knight Frank, who represented the landlord, A&R Real Estate. Read More

Lease Beat

Four New Tenants Sign Midtown South Leases [Updated]

245 Fifth Avenue

The Moinian Group and Thor Equities inked deals for four new tenants totaling 40,397 square feet in their 26-story building at 245 Fifth Avenue just north of Madison Square Park, Commercial Observer has learned.

E-commerce reviewer service TrustPilot and skin care and spa provider Anti-Aging America each signed for 13,627 square feet for the entire fourth and sixth floors of the building, respectively, while ad agency Wednesday NY will move into the 8,916-square-foot 25th floor later this year and the nonprofit research organization the Families & Work Institute will occupy a 4,227-square-foot area on the 10th floor of the building. Read More

Lease Beat

Jane Street Inks Brookfield Place Lease

250 Vesey Street.

Jane Street Capital has signed a 15-year lease for 114,000 square feet at 250 Vesey Street, sources confirmed with Commercial Observer.

The lease covers a portion of the fourth floor and the entire fifth and sixth floors of the building. The trading firm will relocate to Brookfield Place from One Liberty Plaza, another Brookfield property. Jane Street will pay rent in the mid-$50s per square foot, one source said. Read More

Lease Beat

Samsung Seals Deal at 837 Washington Street [Updated]

837 Washington Street.

Samsung Electronics North America has confirmed it is leasing the entire 55,000-square-foot building at 837 Washington Street, the Wall Street Journal reported, using the space to house its brand marketing team and to showcase business mobile products. The deal was signed early last night, Paul Pariser, co-chief executive officer of Taconic Investment Partners, told Commercial Observer.

As CO first reported, the electronics company was close to finalizing a deal last month in the six-story building developed by Thor Equities and Taconic. The asking rent on the ground floor at the glass building, which is between Little West 12th and 13th Streets, was $500 per square foot, a source previously told CO. The asking rent for the floors above was $120 per foot and the asking rent for the below-grade space was $100 per foot, Mr. Pariser said, noting that they provided “market concessions.” Read More

Lease Beat

Marketing and Fashion Companies Ink Soho, Flatiron District Leases [Updated]

7 West 18th Street

Cast Iron Real Estate brokers Beth Chase and David Barreto signed new tenants into spaces at 580 Broadway in Soho and 7 West 18th Street in the Flatiron District, the company announced today.

Copenhagan-based jewelry and homeware retailer Georg Jensen has moved its U.S. corporate staff into a 3,200-square-foot office and showroom space for five years with asking rents of $58 per square in Soho, and marketing and events planner Pop2Life will soon relocate from 247 Centre Street into a 4,200-square-foot office on the sixth floor in the Flatiron area for five years with asking rents of $50 per square foot, the brokers said. Read More

Lease Beat

Lulu, ‘Yelp for Men,’ Setting Up Shop in Midtown South

24-28 West 25th Street.

Lulu, the online dating app for women, is heading to the United States, with an office in Midtown South. The new space is at 24-28 West 25th Street, between Broadway and Avenue of the Americas, Lulu told Commercial Observer.

The dating site, which launched in February 2013 and allows women to anonymously review and grade men in the sack (and for other attributes), tapped architect West Chin to design the 5,500-square-foot space. Read More

Lease Beat

Nonprofit, Insurance Company Sign Big Seaport Leases

199 Water Street

The nonprofit Center for Reproductive Rights and the Allied World Assurance Company signed new leases for more than 53,000 square feet at Jack Resnick & Sons199 Water Street building, Commercial Observer has learned.

The separate deals will move the advocacy organization into a 36,985-square-foot space for 10 years on the 22nd floor of the 35-story tower by early 2015 and expand the insurance firm’s space by 16,296 feet on the 29th floor for 15 years to a collective 159,593 square feet in the structure that’s adjacent to South Street Seaport. Read More

Lease Beat

GFI Insurance Expands to Borough Park Without Broker

3900 12th Avenue. (PropertyShark)

GFI Insurance Brokerage last month opened a new office in Borough Park, Brooklyn, Commercial Observer has learned.

GFI’s other divisions include mortgage banking and commercial real estate sales and finance. GFI’s background in real estate has increased its ability to attract clients in commercial and residential development, according to Brian Gross, the president of the insurance division.  The new office is the firm’s first in the borough. Read More

Lease Beat

Patent Litigation Firm Signing Lease at Empire State Building [Updated]

Empire State Building.

Year-old patent litigation firm Radulescu today is signing a deal to move from temporary digs at a Regus to permanent space at the Empire State Building, Commercial Observer has learned.

The firm is taking 12,200 square feet of prebuilt space on the 69th floor of the building at 350 Fifth Avenue, between 33rd and 34th Streets. The asking rent is $62 per square foot, according to Empire State Realty Trust, a real estate investment trust that counts the Empire State Building among its assets. The lease will be for 10 years and Radulescu will move in on Sept. 1, said Jonathan Anapol, president of Prime Manhattan Realty, who is representing the law firm along with Prime’s William McCollum. Radulescu’s current office is at Regus at 136 Madison Avenue off of 31st Street. Read More

Lease Beat

Midwest Structural Engineering Firm Takes Space in Harlem

233 West 135th Street.

Chicago-based Infrastructure Engineering, Inc. is heading to Harlem to establish its first New York City offices.

The firm, which was established in 1986, has signed a lease for 1,275 square feet on the ground floor at 233 West 135th Street, between Adam Clayton Powell and Frederick Douglass Boulevard. The asking rent was $32 per square foot and the lease is for three years. Read More

Lease Beat

Bulova Moving to Empire State Building

Empire State Building

Luxury watch and clockmaker the Bulova Corporation will move its corporate headquarters from Woodside, Queens into a 33,214-square-foot space on the 29th floor of the Empire State Building at 350 Fifth Avenue by early next year, the New York Post reported this morning.

The 15-year lease at an average asking rent in the $60s will shift the company’s footprint back to the borough where Joseph Bulova founded the firm in 1875. Read More

Lease Beat

Fashion Avenue Sweater Knits Relocating in Midtown

525 7th Ave

Clothing supplier Fashion Avenue Sweater Knits signed a 10-year, 25,000-square-foot lease to move into a showroom and office lease at Olmstead Properties525 Seventh AvenueCommercial Observer has learned.

The company that specializes in importing women’s and children’s wear will expand from collectively smaller locations at 1400 Broadway and 225 West 37th Street and pay an average asking rent of $55 per square foot, said Marc Schoen of Savitt Partners, the broker who represented the company in the transaction. Read More

Lease Beat

Securities Training Corporation Leads New Deals at 123 William Street

123 William Street. 123 William Street. (Viewthespace.com)

Securities Training Corporation has signed a long-term, 32,356-square-foot lease at 123 William Street, Commercial Observer has learned.

The tenant, which provides securities licensing preparation courses, will relocate from 17 Battery Place and occupy a portion of sixth and the entire seventh floor of the Lower Manhattan building. The company, founded in 1969, also operates locations in Chicago, Boston, San Francisco, South Florida and London. Read More

Lease Beat

Winick Leases Three Spaces at 400 Broome Street

1-00481-0001.K6kzqpf1

Winick Realty Group has leased three spaces to fill the repositioned retail space at 400 Broome Street, Commercial Observer has learned.

Asking rent for all three spaces was $150 per square foot, and lease terms are 10 years, according to Aaron Fishbein of Winick, who, along with Executive Vice President Darrell Rubens, represented building owner Coral Broome Street LLC in the transactions. Read More