Leases  ·  Retail

Papyrus Takes Space in Penn Plaza Market


Stationery store Papyrus is opening a new store at 1359 Broadway between West 36th and West 37th Streets, Commercial Observer has learned.

Papyrus has scored 1,187 square feet on the ground floor at the 22-story office building, according to a spokeswoman for the landlord, Empire State Realty Trust. The asking rent was $400 per square foot. As for the length of the lease, she would only say it was “long term.”

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Papyrus has locations all over the city. CO reported last July that the San Francisco Bay Area-based company signed its 19th lease in New York City with a deal at 149 Reade Street.

ESRT’s Fred Posniak and Shanae Ursini along with Jared Lack of Newmark Grubb Knight Frank represented ESRT in the deal. Mr. Lack declined to comment. SCG Retail’s Jacqueline Klinger, who represented Papyrus along with colleague Taryn Brandes, didn’t immediately respond to requests for comment.

Office tenants at  the 471,229-square-foot 1359 Broadway include a division of Hong Kong-based retail supply-chain manager Li & Fung, tax and accounting firm FLSV Fund Administration Services, online invitation service Evite and financial data management company Asset Control System.