New York Film Academy Leads Leasing at 26 Broadway
Gus Delaporte June 18, 2014, 3 p.m.
The New York Film Academy has signed a new 15-year lease for the entire 45,000-square-foot 12th floor of 26 Broadway in Lower Manhattan.
The deal is the largest of seven recent leases totaling 126,000 square feet at the building. Built in 1885 as the Standard Oil Building, the 32-story tower at 26 Broadway has reached 90 percent occupancy thanks to the recent deals.
“This building offers old-world charm and new-world amenities. It is centrally located by the bowl at Bowling Green and offers sweeping harbor views,” said Howard Kesseler of Newmark Grubb Knight Frank, who represents the landlord, the Chetrit Organization.
Mr. Kesseler and Jamie Jacobs of Newmark Grubb Knight Frank represented Chetrit in all transactions. Mr. Kesseler also advised the New York Film Academy.
Elsewhere in the building, digital design studio ustwo signed a new long-term lease for a 20,000-square-foot unit with outdoor space. The tenant will relocate from 236 West 27th Street within 60 days, Mr. Kesseler told Commercial Observer.
On the 20th floor, Cornell University’s College of Architecture, Art and Planning signed a long-term lease for 11,000 square feet of space. The tenant was represented by Rob Eisenberg and Mark Weiss with NGKF.
Gladstein Keane and Partners, a newly established law firm, inked a new lease for 11,000 square feet on the 26th and 27th floors of the building. The firm was represented by Travis Wilson and Adam Leshowitz of NGKF.
Law firm Schlam Stone & Dolan also signed a long-term renewal for its 20,000 square feet of space on the 18th and 19th floors. Mr. Kesseler and Ms. Jacobs represented the tenant.
Temporary office space provider 26 Broadway Executive Suites will open up a new 11,000-square-foot location at the property after signing a deal there. Both Mr. Kesseler and Ms. Jacobs represented the tenant.
Lastly, online restaurant ordering platform OLO.com signed an 8,000-square-foot lease for a new location at 26 Broadway. The tenant was represented by Brian Lee and Travis Wilson of NGKF.
With 80,000 square feet of space available in the building, the landlord is planning to divide the entire 11th floor into pre-built units, in an attempt to attract more tech and social media tenants, Mr. Kesseler noted.