Interactive marketing content producer Gin Lane Media has moved into an expanded Chinatown office space through a five-year, 4,119-square-foot lease at local developer Kai Ming Chan‘s 13-floor building at 136-138 East Broadway between Rutgers Street and Pike Street, Commercial Observer has learned.
The deal for the second-floor lease at the building with asking rents of $49 per square foot has doubled the tenant’s space at the property that’s a block west of Seward Park, said Brad Cohn of Adams & Co.
“The space is in an up and coming area, the loss factor is very low, there is an outdoor space and they were able to do build the space out in the creative way they wanted,” Mr. Cohn wrote in an email. “They are a great fit for the landlord because they are an up and coming young company with strong financials that will attract more creative companies with their beautifully built space.”
Mr. Cohn and fellow Adams & Co. broker Alan Bonett represented the tenant in the negotiations, while Dean Lui, president and general manager of Century 21 New Golden Age Realty, negotiated on behalf of the building ownership.
Mr. Lui confirmed the deal but didn’t comment further on it in an email interview.
The tech-savvy company has already posted four pictures on Twitter of art, plants and signage in its headquarters since its first day in the new space in July, according to the company’s Twitter feed.