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Lease Beat

Lease Beat

Private Equity Firm Relocates in Midtown East

477 Madison Avenue

Private equity firm First Atlantic Capital has moved roughly five blocks south through a five-year, 5,278-square-feet lease on the third floor at a JAB Madison Holdings building in Midtown East, Commercial Observer has learned.

The company, which relocated from 135 East 57th Street to 477 Madison Avenue on Oct. 1, joins three other new tenants at the 24-story building. The four companies are leasing a collective 19,184 square feet of pre-built space, which they assumed in the past six months on floors 3 and 23, Cassidy Turley officials said. Read More

Lease Beat

Ecommerce Solutions Provider Expands at 292 Madison [Updated]

292 Madison Avenue.

Borderfree, an international provider of cross-border ecommerce solutions, has expanded its lease by 11,113 square feet, or the entire third floor, at the Mufson Partnership-designed 292 Madison Avenue between 40th and 41st Streets, Commercial Observer has learned.

The company’s international headquarters space now spans the entire third, fourth, fifth and 17th floors, bringing its total square footage to 39,374. Read More

Lease Beat

Sandy-Exiled Law Firm to Move Back Downtown

90 Broad Street

Full-service law firm DeCorato, Cohen, Sheehan and Federico will return to Lower Manhattan through a 15-year, 18,983-square-foot lease at Princeton International Properties90 Broad Street, Commercial Observer has learned.

Damages from Superstorm Sandy forced the firm out of its longtime home at 110 Wall Street into short-term space in Midtown. But officials with the firm expect to occupy new digs on the entire 14th floor at the property located at Broad and Bridge Streets two blocks from Battery Park in January 2015, CBRE officials said. Read More

Lease Beat

Vogel Boots Trots Over to the Navy Yard

Jack Lynch, the CEO of Vogel Boots, left, and Bertrand de Soultrait of Bertwood Realty in Vogel Boots' new production facility at the Brooklyn Navy Yard.

New York-based horse riding boot manufacturer Vogel Boots has downsized with a new 4,000-square-foot production facility at the Wallabout-based Brooklyn Navy Yard, Commercial Observer has learned.

The company moved into suite 805 in Building 4 on the 300-acre city-owned waterfront industrial campus at the beginning of this month after selling the Soho building that housed the company, at 19 Howard Street. Read More

Lease Beat

Law Firm to Make Big Manhattan West Move in 2020

Manhattan West

Bigtime law firm Skadden, Arps, Slate, Meagher & Flom will relocate its New York City headquarters to the Hudson Yards area in the spring of 2020 through a 20-year lease at Brookfield Property PartnersManhattan West complex.

The firm, with 1,600 attorneys in 23 global offices, will move to the planned 2-million-square-foot, 67-story 1 Manhattan West tower at Ninth Avenue and West 33rd Street, a letter of intent signed and confirmed by officials at Brookfield and Skadden Arps says. The building will be part of Brookfield’s 7-million-square-foot mixed-use development. Read More

Lease Beat

Italian Restaurants Renew in Little Italy

132 Mulberry Street

Four Italian eateries will remain in their Little Italy spaces along the neighborhood’s famed Mulberry Street through five-year lease renewals in EVO Real Estate Group’s retail condominium on the ground floor of the commercial building at 132 Mulberry Street, EVO announced this morning.

The new deals will keep Paesano, La Nonna, Pellegrino’s and Umberto’s Clam House in their current spaces along a stretch of the corridor that hosts the annual Feast of San Gennaro. Together they comprise nearly 10,000 total square feet. The asking rents started at $150 per square foot, EVO officials said. Read More

Lease Beat

Target to Open Smaller Store Model in Downtown Brooklyn

City Point rendering. (City Point)

CityTarget, the big-box chain Target’s smaller store model, will find its first New York home at City Point, the 1.8-million-square-foot development under construction in Downtown Brooklyn.

First reported by the New York Daily News last Friday, the lease for CityTarget was signed over a year ago and includes 125,000 square feet of retail and storage space. A press release issued by Target noted that the location in Albee Square will target neighborhood residents, students and straphangers who use the nearby DeKalb Avenue subway station. Read More

Lease Beat

Nonprofit Expands in Midtown East Relocation

685 Third Avenue

The Foundation for the Global Compact, a nonprofit United Nations partner organization, will more than double its office footprint by moving less than a block west from its current digs in the first quarter of 2015. The nonprofit signed a 15-year, 27,235-square-foot lease on the entire 12th floor at TIAA-CREF’s 685 Third Avenue, Savills Studley announced Wednesday.

The organization, which raises awareness about the UN Global Compact and works to create partnerships with businesses and governments, will depart a 9,800-square-foot space nearby and consolidate from space it currently uses at the UN headquarters. Asking rents were $60 per square foot, Savills Studley officials said. Read More

Lease Beat

CrossFit Affiliate to Relocate and Expand in Crown Heights

1010 Dean Street

Crown Heights, Brooklyn CrossFit gym affiliate CrowHill CrossFit will relocate and expand to a new 11,600-square-foot location in an entire one-floor industrial property at 1010 Dean Street in the first quarter of 2015, CPEX announced earlier this week.

The gym that is the local edition of the popular chain will move roughly four blocks north of its current location through a 10-year lease in a property where asking rents ran for $30 per square foot, according to Crain’s New York Business, which first reported the deal. Read More

Lease Beat

Cafés Owner Expands Business With Commissary Space

144-146 East 44th Street.

Blue Radish Group, the parent company of Bread Market Café, Café Beyond, Digby’s Café and City Chow Café, has expanded its business with a new commissary space for its catering and delivery business, Commercial Observer has learned.

The company took 6,800 square feet on the lower level of 144-146 East 44th Street between Third and Lexington Avenues in a 10-year deal, a spokeswoman for the tenant’s broker said. Blue Raddish has assumed occupancy of the space in the 45,000-square-foot, seven-story building. Read More

Lease Beat

Insurance Information Institute Relocates in FiDi

110 William Street.

Insurance Information Institute signed a new 7,900-square-foot lease at 110 William Street, a building owned by Savanna and KBS Strategic Opportunity REIT, Commercial Observer has learned.

The tenant, whose mission for 50 years has been to improve the public’s understanding of insurance, signed a 10-year deal in the 32-story building, Savanna announced. The asking rent was in the mid-$40s, according to a spokesman for Savanna. Insurance Information Institute will be relocating to floor 18 from 24 in December. Read More

Lease Beat

Tech Provider, Epiq, Relocates in Midtown Sublease From Avon

777 Third Avenue.

Epiq Systems is relocating employees from its offices at 90 Park Avenue to furnished digs at 777 Third Avenue, as Crain’s New York Business first reported.

The legal industry technology provider is subleasing two full floors, 10 and 11, totaling 50,000 square feet, from Avon cosmetics company. The William Kaufman Organization and The Travelers Companies co-own the 38-story roughly 600,000-square-foot building which is between 48th and 49th Streets. The asking rent wasn’t immediately available. Avon replaced a major advertising firm as the anchor tenant in 2010. Read More

Lease Beat

Art Dealer and Energy Company Book Seagram Spaces

375 Park Avenue

London-based petroleum trading company Yakima Oil Trading and independent art dealer Tobias Meyer have opened Seagram Building offices through respective five-year leases on the 25th floor totaling 3,841 square feet at RFR Realty’s landmarked building at 375 Park Avenue, Commercial Observer has learned.

The energy finance firm has inaugurated its first New York City offices in a 2,437-square-foot space and Mr. Meyer, who stepped down from his role as chief art auctioneer after 20 years at Sotheby’s last year, opened a 1,404-square-foot office for his new private art business, company officials said. Read More

Lease Beat

Fashion Designer Renews in Garment District

263 West 38th Street.

You can say it’s staying a part of the fabric of the neighborhood. Women’s clothing designer Susana Monaco will keep her eponymous company at Handler Real Estate Organization‘s 263 West 38th Street in the Garment District through a long-term, 6,000-square-foot renewal for the building’s entire 17th floor, Commercial Observer has learned.

The knit-specialist and dress designer who has outfitted celebs like Cynthia Nixon, Denise Richards and Kristen Stewart has operated a showroom and office space at the property with asking rents of $41 per square foot since 1999, Handler officials said. Read More