Art Department Takes 7K SF at Masonic Building
Lauren Elkies Schram June 5, 2015, 4:30 p.m.
A company representing photographers and artists, Art Department has taken 7,000 square feet at the Masonic Building at 71 West 23rd Street owned by the Trustees of the Masonic Hall and Home, the landlord’s broker told Commercial Observer.
The building spans the entire corner of Avenue of the Americas from West 23rd to West 24th Streets. Art Department will be on the third floor overlooking Avenue of the Americas through a 10-year deal, said City Connections Realty‘s Herb Goldberg, who represented the landlord in the deal.
The asking rent was $57 per square foot. Robert Mitchell of Byrnam Wood represented Art Department in the deal.
The company will be moving out of a 7,300-square-foot fourth-floor space at Zar Property NY’s 50 Greene Street. The company is just starting construction at 71 West 23rd Street, Mr. Goldberg said.
“They really fell in love with the space and the building,” Mr. Goldberg said. The company was enticed by the building meeting rooms available to tenants at a great discount.
Built in 1912, the 243,200-square-foot building at 71 West 23rd Street contains office space, banquet and meeting rooms, commercial space and many rooms used for Masonic purposes, including the two-story Grand Lodge with a custom organ and a plush and elaborate décor. Tenants include nonprofit Help/PSI, software technology platform Turn and yoga center Yoga Shanti, as CO previously reported. The building is 97 percent occupied, but for 6,000 square feet adjacent to the Art Department’s space.