Post-Production Company Moving to Midtown With 49K-SF Deal
By Liam La Guerre March 24, 2016 6:26 pm
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PostWorks, a television production services company, has inked a 49,690-square-foot sublease to relocate to 1411 Broadway between West 39th and West 40th Streets.
The firm will occupy shoemaker Nine West’s space on the 15th and 16th floors of the building, which is owned by Ivanhoé Cambridge. Asking rents in the building range from the high-$60s per square foot to the mid-$70s a foot, as The New York Post reported.
PostWorks is moving from 100 Avenue of the Americas between Watts and Grand Streets in the Hudson Square area, where it has more than 106,000 square feet of space on five different floors, according to CoStar Group. The company also has offices at 609 Greenwich Street between Leroy and Clarkson Streets and 110 Leroy Street between Greenwich and Hudson Streets.
Marc Schoen of Savitt Partners represented PostWorks in the deal. A spokeswoman for Savitt Partners declined to comment.
PostWorks’ relocation is another example of non-fashion tenants invading the Garment District, as the neighborhood continues to cut its number of fabric-producing firms, as Commercial Observer previously reported.
JLL’s Amanda Bokman, Frank Doyle, David Kleiner, Clark Finney and Kevin West represented Nine West in the sublease. The brokers didn’t immediately respond to a request for comment via a spokesman.
It isn’t the first time Nine West has subleased space in the building. Basic Resources signed a 57,280-square-foot sublease with Nine West for the entire second floor and part of the third last year, as CO previously reported. And prior to that, Republic Clothing Group signed a sublease with Nine West for 55,500 square feet on the 34th and 35th floors in the building.
