Production Company CF Entertainment Signs 16K-SF Lease in Midtown
By Mark Hallum February 7, 2024 12:33 pm
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CF Entertainment, a video production company, renewed its 16,400-square-foot offices at 1330 Avenue of the Americas, Commercial Observer has learned.
The company, formed by producer Byron Allen in 1993 and associated with Entertainment Studios and Allen Media Group, signed a renewal for the prebuilt space on the ninth floor, according to JLL (JLL), which represented the landlord, a joint venture among Creed Equities, Hakimian Capital, CH Capital Group and Nassimi Realty.
JLL did not provide the asking rent, but the average asking rent for Midtown office space in the fourth quarter of 2023 was $82.89 per square foot, according to a CBRE report. JLL also did not disclose when the tenant first moved in.
The tenant first moved in 2016 and signed extension for one year.
“In 2023, prebuilt deals made up a record share of leases — more than 20 percent of all leases signed in Manhattan,” JLL’s Mitchell Konsker, who repped the landlord alongside Simon Landmann, Carlee Palmer and Lance Yasinsky, said in a statement. “With its curated office offerings, hands-on management and central location, 1330 Avenue of the Americas provides in-demand boutique space for companies that recognize the powerful benefits of a superior, well-located property.”
Paige Engeldrum and Daniel Organ of Cushman & Wakefield negotiated on behalf of the tenant but did not immediately respond to a request for comment.
Also taking space recently in the 1965-built, Emery Roth-designed building was financial fund i80 Group, which signed a five-year lease for 6,609 square feet on the eighth floor with representation from CBRE (CBRE)’s Hugh McDonald. CBRE did not immediately respond to a request for comment.
Wealth management firm The Bahnsen Group inked a 10-year, 4,545-square-foot lease on the 31st floor and plans to relocate from 420 Lexington Avenue. C&W’s Sean Hoffman represented the tenant.
IT services firm ConvergeOne will open its first New York City office on the 22nd floor after signing a 4,540-square-foot, five-year deal. C&W’s Mark Lauzon negotiated on behalf of ConvergeOne.
Last, hedge fund Aurelius Capital Management is relocating to 3,415 square feet on the 14th floor from 535 Madison Avenue with a new, three-year lease. CBRE’s Gary Davies handled the deal for this tenant.
Mark Hallum can be reached at mhallum@commercialobserver.com.
