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Lease Beat

Lease Beat

Flashtalking Becomes Latest TAMI Tenant to Move To West 36th Street

142 West 36th Street.

Flashtalking, an online advertising technology firm, has signed a 10-year lease at 142 West 36th Street between Broadway and 7th Avenue, Commercial Observer has learned.

The company will take 7,910 square feet, or the entire 10th floor, of pre-built space at the property, according to a press release issued by the landlords Herald Square Properties, a real estate management team, and The Davis Companies, a Boston-based real estate private equity fund. The space is currently raw; they’re doing a turnkey installation. Read More

Lease Beat

Beauty Solutions Renews, Expands Lease In Herald Square

411 Fifth Avenue.

Beauty Solutions, a wholesale cosmetics company, has re-signed its lease at 411 Fifth Avenue between East 37th and East 38th Streets and has increased its footprint on the floor, Commercial Observer has learned.

The company has renewed its 3,985-square-foot space on part of the eighth floor of the office building for another four years, according to a spokeswoman for Adams & Co., the brokerage firm that represented the landlord and the tenant. It also added 1,517 square feet to its office space for a total of 5,502 square feet. The space will be used for general and executive offices in connection with the company’s beauty business. Read More

Lease Beat

JFK Airport to Get ARK for Animals in 2016

The ARK at JFK

John F. Kennedy Airport has added an ark to go with all its airplanes.

The Port Authority of New York & New Jersey agreed to a 30-year lease with ARK Development to develop, construct and maintain a $48 million, 178,000-square-foot facility to provide accommodations, examination and medical treatment for animals and an air cargo handling service at JFK, officials at ARK, a subsidiary of Racebrook Capital Partners, announced today. Read More

Lease Beat

City to Open Pre-K in Former Industrial Space in Queens

132-10 Jamaica Avenue

A coin-operated arcade game business is vacating its longtime distribution center in Richmond Hill, Queens and leasing the one-story, 12,400-square-foot property to the city, Commercial Observer has learned.

The city’s School Construction Authority signed a 10-year lease with two five-year options to open an approximately 100-seat pre-kindergarten school this September at Bay Coin Distributors‘ warehouse at 132-10 Jamaica Avenue, brokers from Kalmon Dolgin Affiliates told CO. The parcel commanded an asking rent of $30 per square foot, said Dmitri Gourianov of Kalmon Dolgin. Read More

Lease Beat

Bed Bath & Beyond Signs 100K SF Retail Deal in Sunset Park

Liberty View Industrial Plaza

After a $100 million makeover, an industrial facility in Sunset Park, Brooklyn got a 100,000-square-foot retail tenant.

Domestic merchandise and home furnishings retailer Bed Bath & Beyond will operate one of the company’s eponymous stores and three others–buybuy BABY, Cost Plus World Market and Harmon Face Values on the second floor of Salmar Properties‘ renovated Liberty View Industrial Plaza at 850 Third Avenue, CPEX Real Estate Services announced today.  Read More

Lease Beat

Kirkland & Ellis Re-Signs Lease at 601 Lexington Avenue

601 Lexington Avenue.

Law firm Kirkland & Ellis has extended its lease at Boston Properties601 Lexington Avenue between East 53rd and East 54th Streets for an additional 20 years, according to a press release issued by Savills Studley.

First reported by The Wall Street Journal, the 20-year extension means that the prestigious law firm will occupy 403,000 square feet at 601 Lexington Avenue until at least 2039. The current lease was set to expire in 2019. According to the Journal,  asking rents at the property range from the high-$60s per square foot to more than $150 per square foot. Read More

Lease Beat

Shared Office Space Provider Enters NY Market Via Prospect Heights

Industrious office.

Industrious, a co-working space provider founded in August 2013, has signed a 10-year lease for its first New York City office at 594 Dean Street, according to Crain’s New York Business.

The company’s new office, located between Carlton and Vanderbilt Avenues in Prospect Heights, will include 18,800 square feet of office space on part of the first floor, all of the second floor and all of the third floor in the three-story building. The company will also have access to a roof deck. Read More

Lease Beat

Companies Lease Over 70K SF at TIAA-CREF Building

475 Fifth Avenue

Two new tenants have signed large-scale deals for space at TIAA-CREF‘s 475 Fifth Avenue.

Penske Media Corporation, the parent company of publications like Women’s Wear Daily and Variety, and VOA Associates Architecture, a global architectural design firm, will relocate its New York City offices to the 24-story property across from Bryant Park between East 40th and 41st Streets. The media company is leasing 56,000 square feet on the second, third, 14th and 16th floors, and the architecture firm grabbed 15,375 square feet for the entire 12th floor, The New York Post reported. Read More

Lease Beat

Finance Tech Firm Takes Space in Midtown East

757 Third Avenue

A virtual financing network platform company has grabbed real-world office space in Midtown East.

CyndX, which connects growing companies with capital providers and executive talent in an online marketplace, moved into a 5,479-square-foot space on a portion of the 15th floor of RFR Realty‘s 757 Third Avenue this week, Commercial Observer has learned. The company signed a five-year lease for space at the property, which commands asking rents in the low $70s per square foot, RFR officials said. Read More

Lease Beat

CohnReznick Takes Space at 1301 Avenue of the Americas

1301 Avenue of the Americas.

CohnReznick, the large accounting, tax and advisory firm, has signed a lease for 125,000 square feet at 1301 Avenue of the Americas between West 52nd and West 53rd Streets, according to the New York Post.

The building, owned by the Paramount Group, is 47 stories and has over 1.7 million square feet of space. The property also features in-building access to Rockefeller Center and subway lines. Read More

Lease Beat

IT Consultants Get New Lease at Old Home

242 West 36th Street

For one information technology management firm, the grass was not greener on West 37th Street. Now Precision IT Group will move a block south to its former building at Kaufman Organization‘s 242 West 36th StreetCommercial Observer has learned.

The company, which provides personalized IT and consulting, will grow later this month from its 4,000-square-foot headquarters at 237 West 37th Street to a 6,317-square-foot space on the third floor of the Garment District property. The company signed a seven-year, four-month lease for space in the building, which carried asking rents of roughly $40 per square foot, Kaufman officials said. Read More

Lease Beat

Design Agency Signs Six-Year Lease in Soho

455 Broadway.

Pearlfisher, a brand design agency established in 1992, has signed a six-year lease at 455 Broadway in Soho, Commercial Observer has learned.

According to a source familiar with the deal, the company will take 8,000 square feet on the fifth and sixth floors of the 24,000-square-foot building between Grand and Howard Streets. The property includes a new roof deck to which the company has exclusive access. The asking rent was $72 per square foot. Read More

Lease Beat

Finance Software Company to Move NYC Offices

622 Third Avenue.

The old Empire Blue Cross/Blue Shield Building just got a new TAMI (technology, advertising, media and information sector) tenant.

Boston-based EZE Software Group, a financial services platform provider, will relocate its New York City offices in the second quarter of the year from 1633 Broadway in Midtown to Charles S. Cohen‘s 622 Third AvenueCommercial Observer has learned. EZE signed an 11-year, 25,000-square-foot lease for a portion of the 10th floor of the 39-story, 1-million-square-foot Grand Central Plaza building between East 40th and 41st Streets, officials with Cohen Brothers Realty Corporation said. Read More

Lease Beat

Wine Shop Grabs Retail Space in Midtown Marble Gem

4 East 43rd Street

The owner of a distinctive marble building in Midtown East revived the once-crumbling structure, and now his broker has turned water into wine.

Arco Wines, a subsidiary of an experienced fine wine and liquor store operator, signed a 10-year, 2,800-square-foot lease to occupy the basement, ground floor and mezzanine space at 4 East 43rd Street, Commercial Observer has learned. The store will open in May. Read More