Music Publisher Primary Wave Takes 13K SF at 1165 Broadway
By Abigail Nehring July 15, 2024 6:58 pm
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Music publisher Primary Wave will mosh its way uptown to a new office in the Flatiron District.
Primary Wave signed a 10-year lease for 12,884 square feet on the top two floors of David Haddad’s 1165 Broadway, according to landlord broker CBRE (CBRE).
Asking rent was $80 per square foot, according to the Instagram page Traded NY, which first reported the deal. The length of the lease is unclear.
Primary Wave was founded by former Virgin Records executive Lawrence Mestel in 2006 after he bought 25 percent of Nirvana’s song catalog from frontman Kurt Cobain’s widow, Courtney Love, in a deal worth $50 million, Rolling Stone reported.
It has since evolved into a full-service music company offering publishing, marketing, branding, licensing and talent management. It has offices in Los Angeles and New York, according to its website.
It’s unclear if Primary Wave will keep its current New York office on the ninth floor of 116 East 16th Street near Union Square or relocate to the new space at the corner of Broadway and West 27th Street.
But the deal with Primary Wave brings the office portion of 1165 Broadway to fully leased, according to CBRE’s Paul Amrich, who represented Haddad in the deal along with Meghan Allen, Neil King and Alexander Golod.
Colliers (CIGI)’ Sam Einhorn arranged the deal for Primary Wave and declined to comment.
The landlord completed a redevelopment of the five-story former hotel at 1165 Broadway into an office building with retail space on the ground floor in 2019, according to a marketing website for the property. The renovations include a glass structure on the roof of the property, which Primary Wave will have the run of.
Barbershop Chaps & Co. occupies one of the retail units at the base of the building, according to its website.
Update: This story has been updated to reflect that Sam Einhorn was the tenant broker.
Abigail Nehring can be reached at anehring@commercialobserver.com.
