W.B. Mason Renews Its 17K SF Office in Midtown South
Terence Cullen Sept. 13, 2016, 11:07 a.m.
A full-floor tenant has opted to stay in NoMad, and Commercial Observer has learned it’s—who but W.B. Mason.
The office supply company known for illustrations of its mustachioed founder has renewed its 16,909-square-foot lease at the 230,000-square-foot 53 West 23rd Street, according to a press release provided by Adams & Co., the landlord and broker in the transaction. W.B. Mason has leased office space on the 10th floor of the 12-story building between Avenue of the Americas and Fifth Avenue for the last 10 years.
The 118-year-old company will remain in the space, which it uses as a sales office, for an additional 12 years, the release indicates. It’s one of 60 locations W.B. Mason has across all 50 states. Asking rent in the deal was $66 per square foot.
James Buslik and Alan Bonett of Adams & Co. represented the landlord in-house as well as the tenant. Buslik said in prepared remarks that the property “draws in high-profile companies like W.B. Mason due to the appealing office layouts that allow for an efficient sales office with enough space to collaborate. The floor plan, brand-new lobby and reasonable rent for Midtown South made the company’s decision to stay at 53 West 23rd Street an easy one.”
Millennial news site Elite Daily signed a 22,255-square-foot sublease last summer to relocate to the property, as CO previously reported. The media company took the entire 12th floor from Tremor Video, which moved to Times Square. Electronics and home appliance retailer P.C. Richard & Son is the retail tenant, occupying three floors for just less than 38,000 square feet, according to CoStar Group.