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Lease Beat

Lease Beat

Winton Capital Signs Lease at the Seagram Building

375 Park Avenue.

Winton Capital, a U.K.-based investment management firm, has signed a 4,100-square-foot lease at the RFR Realty-owned Seagram Building at 375 Park Avenue, Commercial Observer has learned. The tenant will take pre-built space on the 36th floor of the Plaza District property.

Headquartered in London, Winton Capital was founded by David Harding in 1997 and boasts approximately $24 billion in assets under management. The Wall Street Journal first reported the fund’s plans to open a New York office earlier this year.  Read More

Lease Beat

Renewable Energy Markets Firm Inks 675 Third Avenue Lease

675 Third Avenue. (Credit: PropertyShark.)

Karbone, a renewable energy and environmental markets firm, has signed a lease for a 4,351-square-foot portion of 30th floor at the Durst Organization’s 675 Third Avenue, Commercial Observer has learned. Asking rent for the pre-built space was $60 per square foot.

The tenant is currently headquartered at 130 West 42nd Street and will relocate next month.  Karbone, which operates an additional office in London, provides brokerage, capital advisory and research services for new energy asset classes, including carbon credits, emission permits and clean fuels. Read More

Lease Beat

Financial Data Firm Consolidates at 90 Park [Updated]

90 Park Avenue

FactSet Research Systems, which provides analytics and content to the financial industry, has consolidated its space and renewed its lease at 90 Park Avenue between 39th and 40th Streets.

The financial data firm will now have 102,000 square feet spanning the entire 7th, 10th and 11th floors of the 1 million-square-foot tower, according to Crain’s, rather than be spread throughout the building. Read More

Lease Beat

DEA Moving to Brookfield Place

250 Vesey Street.

The Drug Enforcement Administration’s New York Organized Crime Drug Enforcement Task Force (OCDETF ) Strike Force reportedly signed a lease for 56,000 square feet at 250 Vesey Street, one of the five office towers that make up Brookfield Place.

The OCDETF Strike Force is taking the entire 19th floor and will move upon the expiration of its current lease at 85 10th Avenue. Read More

Lease Beat

RCM Technologies Takes Space at Cohen Brothers’ Storied Westchester Complex

333 Westchester Avenue.

Technology company RCM Technologies is relocating its Westchester County offices to Charles Cohen’s 333 Westchester Avenue.

The company, which has 25 offices in metros across North America, including one at 575 8th Avenue in Manhattan, signed a 9,000-square-foot lease for a portion of the second floor in the East Building of the 39-acre, 500,000-square-foot White Plains office campus. Read More

Lease Beat

Novus Partners Signs 200 Park Avenue Sublease

Met Life Building. (Credit: Tishman Speyer)

Novus Partners has signed a sublease from British bank Barclays at the MetLife Building at 200 Park Avenue, Commercial Observer has learned.

The financial data analytics business signed a short-term deal for an 18,375-square-foot portion of the 27th floor. The company will relocate from 130 East 59th Street on a deal through May 2017.  Read More

Lease Beat

Northside Media Group Heads from Dumbo to DoBro

1 MetroTech Center

After 11 years in Dumbo, Northside Media Group, publisher of The L Magazine and Brooklyn Magazine, moved to Downtown Brooklyn’s 1 MetroTech Center yesterday, according to one of Northside’s co-founders, Daniel Stedman.

The company, which also specializes in the marketing, branding and execution of events like SummerScreen, Absolut Bonus Track and the Northside Festival, was ready for a change and needed bigger digs for its 25 employees, Mr. Stedman said. Read More

Lease Beat

Lebenthal Wealth Advisors Inks Helmsley Building Sublease

230 Park Avenue.

Lebenthal Wealth Advisors has signed a six-year, 43,295-square-foot sublease from HSH Nordbank at the Helmsley Building at 230 Park Avenue, Commercial Observer has learned.

The subtenant will sublease the 31st and 32nd floors of the building while HSH Nordbank consolidates and relocates to the 34th floor. The sublandlord, a northern European commercial bank headquartered in Hamburg, Germany, operates its capital markets, shipping and restructuring business units in New York. Read More

Lease Beat

Fashion Designer Takes Space at 501 Madison Avenue

501 Madison Avenue

Designer Randi Rahm, who has designed dresses for the likes of Beyonce and Carrie Underwood, has signed a 10-year lease for a 6,433-square-foot office and showroom space on the eighth floor of 501 Madison Avenue, Commercial Observer has learned.

The tenant is expected to relocate to the Plaza District property, where asking rents range from $60 to more than $80 per square foot, in June. The landlord, KRW Realty Advisors, assumed responsibility for the build-out of the space. Read More

Lease Beat

Two Creeks Capital Management Signs at 40 West 57th Street

Courtesy of LeFrak

Two Creeks Capital Management has signed a lease in Midtown.

The small financial services firm will take a 13,487-square-feet spread in the LeFrak Organization-owned 40 West 57th Street. The deal comes in light of three others that were inked at the building, including those by Darsana, which took a 7,250-square-foot space, and Incline Global, a hedge fund, which took nearly 4,000-square-feet.  Read More

Lease Beat

Harris Publications Renews 48,000SF at 1115 Broadway

1115 Broadway

Harris Publications has signed a nine-year, 47,960-square-foot renewal lease at Eleven Fifteen Associates1115 Broadway, Commercial Observer has learned.

The lease covers two floors in the building, each measuring 23,980 square feet.

“They were longtime tenants and chose to renew early,” said Adams and Co.‘s James Buslik, who represented both parties with colleague and son Jeff Buslik. Read More

Lease Beat

Pucci International Takes 50,000SF at 44 West 18th Street

44 West 18th Street.

Pucci International has signed a 49,875-square-foot, 10-year lease renewal at Forty Four Eighteen Associates44 West 18th Street, Commercial Observer has learned.

The lease covers floors nine, 11 and 12–each measuring 16,625 square feet–the latter of which is the crowning piece of the furniture manufacturer’s newly renovated showroom. Read More

Lease Beat

Fashion Accessories Center Draws New Tenant

10 West 33rd Street

Children’s accessories designer and importer H.E.R. Accessories LTD is relocating its office and showroom to Ten West Thirty Third Associates10 West 33rd Street, also known as the Fashion Accessories Center. 

H.E.R. picked the Garment Center building because “the landlord runs a great building for accessory showroom companies,” said the tenant’s broker in the deal, Michael Beyda of Benchmark Properties. Also, H.E.R. liked the “quality of the space,” he added. the company is moving from 15 West 37th Street. Read More

Lease Beat

Beauty Shop Takes Space at Mall at Bay Plaza

Rendering of the entry to Mall at Bay Plaza

National one-stop-shop beauty products store Ulta Beauty signed a lease for 11,400 square feet at the under-construction Mall at Bay Plaza near Co-op City in the Bronx, and hopes to debut on Aug. 14, the day of the mall’s grand opening.

Ulta’s asking rent was in the low-$100s per square foot and the mall’s rents climb as high as the $200 per square foot range (for smaller stores), the landlord’s representative, Jerry Welkis of Welco Realty, told Commercial Observer. Ulta’s lease is for 10 years and marks the retailer’s first location in the Bronx. The brand has more than 550 stores nationwide. Read More

Lease Beat

Former Bargain World Building in Harlem Picked Up in 99-Year Ground Lease

4-14 West 125th Street

A discount department store that was considered an institution on West 125th Street is getting a new life as a retail establishment. The Rosen family, who owned Bargain World and the building that housed it, has leased out the entire property to an out-of-town retail operator, Commercial Observer has learned.

The tenant signed a 99-year triple-net ground lease at 4-14 West 125th Street, the lone broker in the deal, Robert Khodadadian of Skyline Properties, said, and the property will be delivered vacant. The taking rent is $25 per square foot for the entire property, or $60 a foot if just calculating the most valuable 8,935-square-foot, ground-floor retail space. Read More