Corcoran Group Relocating to 9K SF at 220 West 19th Street
By Mark Hallum April 1, 2024 5:06 pm
reprints
The Corcoran Group is packing up its New York City offices and moving to 9,200 square feet at Only the Brave Group’s 220 West 19th Street.
The real estate firm will stay in Chelsea but leave behind its current offices a block away at 218 West 18th Street, according to landlord broker Avison Young. Corcoran signed a 10-year lease for its new spot with the landlord, which is known for its portfolio of fashion brands such as Diesel.
Avison Young did not disclose asking rent, but asking rents for office space in Midtown South averaged $91 per square foot in the first quarter of 2024, according to a report from Avison Young.
“The value of having move-in-ready space that is fully built and furnished continues attracting occupiers of all types in Manhattan,” Avison Young’s Michael Gottlieb, who represented the landlord with Martin Cottingham, Patrick Steffens, Joel Wechsler and Alexis Odgers, said in a statement. “Being able to immediately occupy the space will streamline and facilitate The Corcoran Group’s relocation of its Chelsea office.”
Elliot Dennis and Paul Wexler represented The Corcoran Group in-house in the deal. Dennis and Wexler declined to comment.
Other recent leases in the building include digital advertising firm Celtra and customer management services Covisian, according to Avison Young. And 37,868 square feet of the property was once occupied by Knotel before its 2021 bankruptcy.
Italy-based Only the Brave Group" class="company-link">Only the Brave Group, also known as OTB Group, bought the building in 2006 and uses it to house its New York City headquarters.
Mark Hallum can be reached at mhallum@commercialobserver.com.
