Comcast Strikes 100K-SF Deal in Garment District
By Liam La Guerre November 10, 2017 1:18 pm
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Comcast, the cable and internet provider, has signed a 100,000-square-foot lease at Shorenstein Properties’ 1407 Broadway.
The deal is for the entire 11th and 12th floors and part of the 14th floor at the 43-story property, which is between West 38th and West 39th Streets in the Garment District. The asking rent in the 10-year deal was $65 per square foot, as The Real Deal reported.
Avison Young’s Anthony LoPresti, Michael Gottlieb and David Fahey handled the deal for Comcast, while CBRE (CBRE)’s Peter Turchin, Gregg Rothkin, Brett Shannon, Ben Fastenberg, Keith Caggiano and Ross Zimbalist represented the landlord.
An Avison Young spokesman declined to comment, as did a CBRE spokeswoman. Representatives for Comcast also did not return a request seeking comment.
It was not immediately clear if Comcast is establishing a new office or moving employees from an existing location. The company is “reshuffling” space in its New York City portfolio, according to TRD.
Shorenstein Properties’ acquired the 34-year leasehold on the 1.1-million-square-foot building in 2015 April for $330 million, and then spent $30 million to renovate it, as CO previously reported. (Solil Management owns the ground under the property.)
A spokeswoman for Shorenstein Properties declined to comment on the deal.
