StubHub Relocating One Block South in Midtown
The new space at 1412 Broadway will be a big upgrade from the 1,200 square feet StubHub had leased on the ground floor of 1440 Broadway. StubHub’s new lease runs for more than 10 years, and the company plans to open there within the next five months.
StubHub’s space breaks down to 1,785 square feet on the ground level of the 24-story building, and the remaining 4,600 square feet is on the lower level.
Michael Kadosh, Jesse Wolff and Jeff Black of CBRE represented StubHub in the deal, while the landlords, Isaac Chetrit and Charles Aini, did not have a broker. The CBRE team declined Commercial Observer’s request for comment via a spokeswoman. Mr. Chetrit could not immediately be reached for comment.
A source told TRD that asking rent in the deal was $350 per square foot.
Messrs. Chetrit and Aini bought the 428,626-square-foot building in July 2014 for $250 million, property records show. Office tenants in the structure include sandal manufacturer Jack Rogers, men’s clothier Outerstuff and publishing company Davler Media Group, which signed a 17,500-square-foot sublease in January 2014, as CO previously reported.