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Lease Beat

Lease Beat

Metro-North Expands Presence in Grand Central Area

The Graybar Building.

Metro-North Commuter Railroad Company has expanded its presence at the Graybar Building at 420 Lexington Avenue to house the railroad’s police department.

According to a press release issued by SL Green, the Graybar Building’s owner, Metro-North inked a 20-year lease for 30,254 square feet. This increases its total occupancy at the site to 296,257 square feet. The expansion will occur on portions of the building’s fourth and sixth floors. Read More

Lease Beat

Monster Worldwide Renews Lease in Midtown East

622 Third Avenue.

Monster Worldwide, the parent company of job search engine Monster.com, has renewed its lease at 622 Third Avenue, Commercial Observer has learned.

The company recently signed a 10-year lease renewal for 30,000 square feet that it occupies on the entire 39th floor and a portion of the 37th floor at the building located between East 40th and East 41st Streets. Read More

Lease Beat

Fashion Designer Cuts a Deal to Relocate in Garment District

132 West 36th Street.

Women’s fashion designer Donna Morgan will move three blocks south in the Garment District through a seven-year, 8,272-square-foot lease at the Kaufman Organization‘s 132 West 36th Street, Commercial Observer has learned.

The company, which designs outfits ranging from wedding dresses to casual wear, will occupy a showroom and office on the north side of the eighth floor of the structure between Broadway and Seventh Avenue. Kaufman officials expect them to relocate from 530 Seventh Avenue in February 2015 at the building where asking rents run in the high $40s per square foot, they said. Read More

Lease Beat

Major League Baseball Expands at Chelsea Market

Chelsea Market. (Jamestown)

Professional baseball organization Major League Baseball has hit a winner with an expanded lease for its multimedia branch, Major League Baseball Advanced Media, inside Jamestown‘s Chelsea Market, Commercial Observer has learned.

MLB Advanced Media, which oversees MLB.com and is based on the fifth floor at 75 Ninth Avenue, has added 35,000 square feet on the second floor, bringing its total square footage in Chelsea Market to 150,000, a source with intimate knowledge of the deal said. Read More

Lease Beat

Two Finance Firms Nab Space in West Midtown [Updated]

810 Seventh Avenue.

Brightwood Capital Advisors and DH Capital LLC and DH Capital Securities together have taken 26,080 square feet at 810 Seventh Avenue between West 52nd and West 53rd Streets.

As first reported by The New York Post, Brightwood Capital Advisors took 17,320 square feet and DH Capital LLC and DH Capital Securities took 8,760 square feet. Brightwood’s lease is for 10-plus years and spans the entire 26th floor, according to a release from SL Green Realty Corp., the building’s owner. DH Capital’s lease is for seven-plus years and occupies a portion of the 20th floor.  Read More

Lease Beat

CVS Takes 12K SF at RFR Building on East 47th Street

757 Third Avenue.

Pharmacy chain CVS Health has signed a lease for more than 12,000 square feet at RFR Realty‘s 757 Third Avenue between East 47th and East 48th Streets, Commercial Observer has learned.

The retailer took 12,204 square feet on the ground-floor corner and basement of the building. The space was previously occupied by Wells Fargo Bank and RCN, RFR said. The new CVS lease required both a temporary and permanent relocation of RCN, which will temporarily move to RFR’s 275 Madison Avenue until its permanent location is ready for occupancy. Read More

Lease Beat

New Spa Takes Space at 44 Trinity Place

44 Trinity Place.

A brand-new health and wellness center, 51 Dream, has signed a 10-year lease at 44 Trinity Place in Lower Manhattan, Commercial Observer has learned.

The spa will include 1,800 square feet on a second-floor retail space at the block-through building between Rector Street and Exchange Alley, according to Eastern Consolidated. It will feature 15-foot ceilings, 20 feet of frontage and an entrance each along Trinity Place and Greenwich Street. Read More

Lease Beat

Learning Toy Store to Open First Manhattan Location on UES

1029 Third Avenue

The first Manhattan location of educational toy store franchise Learning Express Toys will open in time for the holidays in a 1,668-square-foot ground- and lower-floor space on the Upper East Side, Commercial Observer has learned.

An outpost of the toy, book and game store with 130 U.S. locations will open in December with 818 square feet of ground-floor space at the Savoy Shops at 1029 Third Avenue at East 61st Street, according to a spokeswoman with Winick Realty Group. Dylan’s Candy Bar anchors the building. Read More

Lease Beat

Fitness Centers Bulk Up Leases in Gowanus

600 Degraw Street

Two fitness centers have agreed to grow their footprint on Degraw Street in Gowanus, Brooklyn through ten-year leases in former warehouses owned by the same landlord, officials with Kalmon Dolgin Affiliates said this week.

Strength and conditioning practitioners Brooklyn Crossfit will add a 5,000-square-foot space at 608 Degraw Street on top of its existing space at 597 Degraw Street, while the attack-and-parry specialists at Brooklyn Fencing will expand from the 5,500-square-foot ground floor to occupy an entire two-story, 11,000-square-foot structure at 600 Degraw Street, Kalmon Dolgin broker Allison Chambers told Commercial Observer. Read More

Lease Beat

Sam Chang Snaps Up Times Square Parking Lot in Lease [Updated]

322-326 West 44th Street. (Lauren Elkies Schram)

Prolific hotelier Sam Chang of McSam Hotel Group has picked up a parking lot in the Times Square area through a long-term land lease, Commercial Observer has learned.

Mr. Chang partnered with M&R Hotel Group, a development company that purchases and builds hotels, to acquire the 35,400-square-foot through-block site at 322-326 West 44th Street between Eighth and Ninth Avenues in a 99-year triple-net lease with the owner, Manhattan Parking Group. Mr. Chang said the deal closed a couple of weeks ago at $775,000 a year in rent. Read More

Lease Beat

RBC Capital Nabs More Rock Center Space

1211 Avenue of the Americas

Financial services group Nordea Bank and investment bank RBC Capital Markets booked largescale leases at 1211 Avenue of the Americas, Crain’s New York Business reported earlier this week.

RBC Capital Markets, a subsidiary of the Royal Bank of Canada, will expand by 15,000 square feet to a total of 63,000 square feet on the 29th and 33rd floors of the 44-story tower in the Rockefeller Center area, the publication reported. Read More

Lease Beat

NBA Scores Swank New Space on Fifth Avenue

545 Fifth Avenue.

The National Basketball Association has signed a lease at 545 Fifth Avenue on the corner of East 45th Street, ending its search for a permanent flagship store space beloved by basketball fans.

First reported by the New York Post, city permits indicate that the space includes 23,957 square feet and 76 feet of frontage along Fifth Avenue. The 13-story property is owned by the Moinian Group, which declined to comment on the deal. Read More

Lease Beat

Orthopedic and Sports Medicine Group to Relocate in Midtown

57 West 57th Street.

The Mount Sinai Hospital-affiliated Manhattan Orthopedic & Sports Medicine Group will grow its Manhattan footprint in the spring by moving from a temporary Midtown location to the Cohen, Carmel and Getreu families’ 57 West 57th StreetCommercial Observer has learned.

The medical group that also has a Long Island City location signed a long-term lease for the entire 10,315-square-foot 15th floor of the 20-story property, said officials with Colliers International. Read More