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Lease Beat

Lease Beat

Numerix Moves to New Space in Silicon Alley

99 Park Avenue.

Numerix, a company that develops software for risk analysis, is moving into a space in Silicon Alley previously occupied by Collective, a technology advertising firm.

When Collective vacates the building for a 58,000-square-foot spread in the old New York Times headquarters on West 43rd Street, Numerix will take over its 31,615 square feet of space at 99 Park Avenue, located between 39th and 40th Streets. The building is owned by Eastgate Realty. Read More

Lease Beat

Law Firm Relocates to 1251 Avenue of the Americas

1251 Avenue of the Americas.

Davis Wright Tremaine, a national business and litigation law firm, is relocating its New York City offices nearby its current digs on the 27th floor at 1633 Broadway.

The firm is taking 42,000 square feet for the entire 21st floor at Japan-based Mitsui Fudosan’s 1251 Avenue of the Americas between 49th and 50th Streets, The Real Deal reported. Its current office is between 50th and 51st Streets. Read More

Lease Beat

Restaurant and Hair Salon Sign East Village Leases

167 Avenue A

Mediterranean restaurant Ethos and hair salon Shampoo will open new locations in the East Village through ground floor and basement leases in Kushner Companies properties, Commercial Observer has learned.

The two new deals for the restaurant in a 3,680-square-foot space at 167 Avenue A between East 10th and East 11th Streets and the salon in a 2,334-square-foot storefront at 14 Avenue B between East 2nd Street and Houston Street lead a portfolio of seven other retail spaces that RKF is marketing on behalf of Kushner in locations stretching across the Village and bordering the Soho area–potential locations that offer retailers excellent value, said RKF senior director Ross Berkowitz. Read More

Lease Beat

Blink Fitness To Open in Financial District Lux Residence

Stan Lindenfeld and Henry Goldfarb

Health club chain Blink Fitness will open a three-floor gym in Bernard and Robert Friedman‘s Lara luxury residential building at 111 Nassau Street in the Financial District through a 15-year, 19,322-square-foot lease, Commercial Observer has learned.

The new deal, combined with other recent leases for ILSC Language Schools and Da Claudio Ristorante e Salumeria, means tenants have now filled out the commercial space with asking rents of $125 per square foot on the ground floor and $40 per square foot for the second through fifth floors in the 168-unit residence, said Stanley Lindenfeld, executive managing director of Lee & Associates. Read More

Lease Beat

Digital Marketing Firm Expands in Midtown South

386 Park Avenue South

Less than a year after moving into the sixth floor at William Macklowe Company and Principal Real Estate Investors‘ 20-story building 386 Park Avenue South in Midtown South, digital marketing firm NewsCred doubled its footprint to take the entire 13,000-square-foot fifth floor in the building as well, Crain’s New York Business reported last week.

The 8-year, 13,000-square-foot expansion move in the space with asking rents of $60 per square foot represents a planned build out for the company specializing in branded content that recently closed a new capital investment, said Elie Reiss, a partner at Skylight Leasing. Read More

Lease Beat

Cushman & Wakefield Opens Downtown HQ in 1 WTC

Base of One World Trade Center

Cushman & Wakefield, the exclusive leasing brokers for One World Trade Center, opened a downtown headquarters Monday through a 10-year, 10,222-square-foot lease on the 45th floor of 1 WTC, the firm announced yesterday.

The firm that maintains its global headquarters in Midtown now boasts an office footprint in space with asking rents of $69 per square foot that the company also markets on behalf of the Port Authority of New York and New Jersey and the Durst Organization. Read More

Lease Beat

Bluestone Lane Coffee Joins Grace Building Retail

Grace Building

Bluestone Lane Coffee will open its fourth location by the end of the year in a 600-square-foot cafe space on the ground floor of the 43rd Street side of the Swig Company and Brookfield PropertiesGrace Building at 1114 Avenue of the Americas, RKF announced Tuesday.

The Melbourne, Australia-inspired espresso and food hub will start operations shortly before chef Gabriel Kreuther and the Teton Restaurant Group inaugurate the chef’s French restaurant scheduled to open doors next year on the Bryant Park side of the building in a two-floor, 15,000-square-foot location. And the coffee shop and cafe should be able to tap into the neighborhoods bustling foot traffic, said RKF managing director Jon Krieger. Read More

Lease Beat

Four New Leases and Renewals South of Times Square

110 West 40th Street

Adams & Co. Real Estate inked two renewals and two new leases totaling 5,998 square feet at the terra cotta World’s Tower Building at 110 West 40th Street one block west of Bryant Park between Avenue of the Americas and Broadway, Commercial Observer has learned.

The leases that range in length from three to eight years will keep Insight Investments and BLB Textiles onsite and move David Geller Associates and Pyramid Consulting Group into spaces of varying size within the 25-story, 125,000-square-foot structure that has 120 tenants, said Brett Maslin of Adams & Co. Read More

Lease Beat

Language Translators Expand in Garment District

450 Seventh Avenue

Language translation service company Morningside Translations expanded its space by an additional 805 square feet to occupy 9,316 square feet in the Kaufman Organization‘s Nelson Building at 450 Seventh Avenue between West 34th Street and West 35th Street, Commercial Observer has learned.

The five-year lease expansion at the building with asking rents in the mid $50s exemplifies a change in the neighborhood surrounding the structure that’s one block north of Madison Square Garden, said Barbara Raskob, the Kaufman Organization’s director of leasing. Read More

Lease Beat

Eyeglass Company Moves Uptown to Garment District

234 West 39th Street

Eyeglass designer, manufacturer and retailer Robert Marc, Ltd. will move from the Meatpacking District to the Garment District through a 10-year, 8,550-square-foot lease at Herald Square Properties and The Davis Companies’ building at 234 West 39th StreetCommercial Observer has learned.

The full-floor lease in the building between Seventh and Eighth Avenues with asking rents in the mid $40s means the building is 95 percent leased, said John Monaco, the principal of Herald Square Properties. Read More

Lease Beat

Related, Oxford Sign Neiman Marcus for Hudson Yards

Neiman Marcus at Hudson Yards

Fashion department store Neiman Marcus will anchor the Shops at Hudson Yards retail complex in Hudson Yards between West 31st and West 32nd Streets on 10th Avenue through a 250,000-square-foot lease agreement the Dallas-based corporation signed with the Related Cos. and Oxford Properties Group on Tuesday, The New York Times reported today.

Neiman Marcus, the only retailer the Hudson Yards partners have announced so far for the 7-floor property, will enjoy prominent signage on the building’s facade and take space on floors five through seven starting in 2018. Read More

Lease Beat

Female-Focused Website Expanding from BK to Midtown South

158 West 27th Street

Female-oriented website Bustle will move its headquarters from a townhouse in Williamsburg to a 9,661-square-foot space on the whole 11th floor of Emmes Asset Management‘s 12-floor building in Midtown South at 158 West 27th Street through a 10-year lease on the property, the Wall Street Journal reported this morning.

The site that features news, entertainment, fashion and lifestyle reporting for women will now operate out of a building between Avenue of the Americas and Seventh Avenue where the owners ask rents running for $60 per square foot and offered up an available floor to the prospective tenants, said Ethan Silverstein of Cushman & Wakfield. Read More

Lease Beat

Jean Shop Moves Its Flagship Location to Soho

37 Crosby Street

Denim brand Jean Shop has moved its flagship location from the Meatpacking District to Soho through a 10-year, 1,400-square-foot lease on the ground and lower floor of Icon Realty Management‘s building at 37 Crosby Street, the Wall Street Journal reported this morning.

The denim brand’s retail, showroom and wholesale space will fit in on a stretch of the street between Broom Street and Grand Street that’s added several new occupants in recent years, said Gregory M. Tannor of Cushman & Wakefield. Read More

Lease Beat

Financial Company Moving to Midtown

1325 Avenue of the Americas

Wealth management firm KLS Professional Advisors Group will relocate to a bigger office in Midtown this fall through a 16-year, 30,852-square-foot lease for part of the 12th floor and all of the 14th floor at the Paramount Group‘s building at 1325 Avenue of the Americas between West 53rd and West 54th Streets, the New York Post reported this morning.

KLS Advisors will terminate their lease a year early for a smaller space in the Flatiron District at 111 Fifth Avenue for no fee, said Joseph Genovesi, executive managing director of Savills Studley. Read More