Lease Beat

Lease Beat

Engineering Company Relocating to West 39th Street

15 West 39th Street.

Alliance Mechanical Group is relocating to 15 West 39th Street between Fifth Avenue and Avenue of the Americas from nearby 1407 Broadway between 38th and 39th Streets, Commercial Observer has learned.

The mechanical engineering company, which handles heating, ventilation, air conditioning and mechanical contracting, took 4,700 square feet, or the entire 10th floor, in the building, according to Philip Silverstein of Silverstein Solutions, the leasing agent for the building who also represented the tenant in the deal. The lease is for five years and the asking rent was $42 per square foot, Mr. Silverstein said. Read More

Lease Beat

Snapchat Snaps Up Space at Former Times Building

229 West 43rd Street

Snapchat, the preferred photo-sharing app of teens that was valued earlier this year at $10 billion, has signed a lease at 229 West 43rd Street, best known as the old New York Times building.

According to Crain’s New York Business, the technology company is taking the entire top two floors, the 15th and 16th, which amounts to 27,000 square feet. Read More

Lease Beat

SCG Retail Doubles Office Size With Move to West 57th Street

250 West 57th Street.

SCG Retail, the urban street division of Atlanta-based Shopping Center Group, is doubling its office space with a move to 250 West 57th Street, Commercial Observer has learned.

The firm signed a deal for 6,000 square feet last month and plans to move to the Empire State Realty Trust-owned digs between Broadway and Eighth Avenue on Jan. 1, 2015, a spokesman for SCG Retail said. SCG Retail currently operates out of 3,000 square feet at 1841 Broadway between West 60th and West 61st Streets. Read More

Lease Beat

Omega, Lululemon Sign Deals at Brookfield Place

The future home of Omega at Brookfield Place. (Lauren Elkies Schram)

Omega and Lululemon Athletica have signed leases at Brookfield Place, Commercial Observer has learned.

The watch manufacturer signed a lease last month for 3,000 square feet in the winter garden below and to the side of Hudson Eats at Brookfield Place and the yoga apparel company has signed a deal for 2,993 square feet in the courtyard, next to where Jose Garces‘ Spanish tapas restaurant, Amada, will open, sources with intimate knowledge of the deals said. Omega has even listed an online job posting for a sales associate at the future store.  Read More

Lease Beat

Branding Company Taking Space at 10 Hudson Yards

Hudson Yards. (Jennifer Henderson)

VaynerMedia, a brand consulting agency with a focus on social media, is taking 90,000 square feet at Related Companies and Oxford Properties Group‘s 10 Hudson Yards on the Far West Side, Bloomberg News reported.

This is the developers’ first office lease deal at what will be a 52-story, 1.7-million-square-foot commercial and retail building since the beginning of 2013, the publication noted. Read More

Lease Beat

Investment Firm Takes Madison Avenue Space

350 Madison

Investment management firm Certares will move its headquarters to RFR Realty‘s 350 Madison Avenue in the first quarter of 2015, the landlord announced earlier this week.

The company founded by former JP Morgan Chase executive Michael Gregory O’Hara signed a five-year, 8,559-square-foot lease for part of the 21st floor of the building, RFR officials said. The Midtown East property, which RFR purchased for $261.5 million last year, commands asking rents between $63 to $85 per square foot, according to figures provided by RFR. Read More

Lease Beat

FiDi Scores Sky-High Rent for Teeny Space

65 Nassau Street.

Today’s Mobile has signed a deal for around 170 square feet of space in the Financial District and is paying a whopping $522.35 per square foot, Commercial Observer has learned. That is nearly double the amount of the average asking rent for ground-floor available space in select major FiDi retail corridors, according to the Real Estate Board of New York‘s fall 2014 retail report.

The mobile center signed a 10-year lease for part of a ground-floor retail condo at 65 Nassau Street near John Street, according to Jesse Sutton of Sutton Equity, who brokered the deal on behalf of the landlord, 65 Nassau Partners LLC, which includes Sutton Equity. The previous tenant was Tie Gallery, who was paying less than $3,000 per month versus Today’s Mobile $7,400 a month. Read More

Lease Beat

Guessing Game is Over: Apple Takes Bite Out of Bedford

247 Bedford Avenue.

After much speculation, Apple has settled on a location for its first Brooklyn store, and as anticipated, it will be at 247 Bedford Avenue at North 3rd Street, the New York Post reported.

Lee NYC‘s Peter Braus led the team that represented the landlords, Red Sky Capital and Waterbridge, in the 20,000-square-foot deal at the two-story brick building. Apple was represented by Chris DeCrosta of Crown Retail Services and Open Realty. Mr. Braus declined to comment and Mr. DeCrosta didn’t immediately respond to a request for comment. Read More

Lease Beat

Lowe’s Signs Deal for Chelsea Flagship

635-641 Avenue of the Americas

Lowe’s Home Improvement has signed a 15-year lease for a Chelsea flagship store comprised of 36,000 square feet on multi-levels at 635-641 Avenue of the Americas, SL Green Realty Corp. announced this week.

Commercial Observer reported in June that the home improvement and hardware chain was searching for locations around New York City, including at 635-641 Avenue of the Americas between West 19th and West 20th Streets, for an urban concept.  Read More

Lease Beat

SL Green Signs Equinox in Plaza District

10 East 53rd Street

Upscale fitness club Equinox Fitness will open a new four-level center in 2016 at SL Green Realty Corp.’s 10 East 53rd Street in the Plaza District, the landlord announced earlier this week.

The full-service fitness club, which operates 73 centers in major U.S. markets, London and Toronto, signed a 25-year, 32,000-square-foot lease, officials with SL Green said. Read More

Lease Beat

Norwegian Architecture Firm Grabs 80 Pine Lease

80 Pine Street

Norway-based architecture firm Snøhetta will move its New York City offices to the Rudin family’s 80 Pine Street in the Financial District, the landlord announced this morning.

The architecture company, whose first New York City project was the National September 11 Memorial Museum Pavillion at the World Trade Center site, will relocate from 25 Broadway to a segment of the 10th floor of the 38-story structure in 2015, representatives for Rudin said. Snøhetta booked a 10-year, 19,321-square-foot lease, according to Rudin’s release. Read More

Lease Beat

Video Streaming Site Hulu Signs Lease in Flatiron

79 Fifth Avenue.

Hulu, the on-demand video-streaming site, is the latest TAMI (technology, advertising, media and information) company to sign a lease in the Flatiron District, having secured space at 79 Fifth Avenue between 15th and 16th Streets.

First reported by The Real Deal, Hulu will occupy upwards of 20,000 square feet at the building, which was built in 1906 and includes roughly 273,000 square feet. Hulu expects to move into its new office in January 2015. Read More

Lease Beat

Garment Center Synagogue Moving to Chetrit Building

1384 Broadway. (Winick Realty Group)

Garment Center Congregation will temporarily move to the second floor of the Chetrit Group‘s 1384 Broadway between West 37th and West 38th Streets, Commercial Observer has learned.

In a deal signed tonight, the Orthodox synagogue will operate out of the entire 7,131-square-foot space through a short-term (three or five years depending on the construction schedule of the new space) lease, according to developer Sharif El-Gamal, the chairman and CEO of Soho Properties. Read More

Lease Beat

Adidas Opens Soho Special Events Space to Promote New Sneakers

Inside the Adidas special events space.

Adidas, the multinational athletic store featuring footwear and sports gear, has opened a temporary storefront for special events in Soho next to its retail store to promote its new customizable shoe and new phone app, according to Newmark Grubb Knight Frank.

The recently-opened space includes 2,500 square feet at 138 Wooster Street, adjacent to Adidas’ permanent retail store at 136 Wooster Street. Read More