Chelsea Lighting Expands HQ to 14K SF at 14 Penn Plaza

A residential lighting company is doubling the size of its headquarters at Circle Realty’s 225 West 34th Street, Commercial Observer has learned.

Chelsea Lighting signed a 10-year lease renewal in the 22-story Art Deco building, also known as 14 Penn Plaza, and is expanding from about 7,000 square feet on the 16th floor to 13,868 square feet on the 15th floor, according to the landlord.

Asking rent in the building is around $60 per square foot.

“The leasing velocity has been very active based upon our location because 14 Penn Plaza is actually the epicenter of transportation for the city, and we’re directly across the street from Pennsylvania Station,” Circle Realty President Jay Futersak told CO.

Another draw is 14 Penn Plaza’s high standards. “I would say 90 percent of our tenants signed based on the quality of the building, how it’s maintained and manicured,” Futersak said.

Joseph D’Apice of CBRE represented the tenant in the transaction, while Futersak handled the deal in-house on behalf of the landlord.

CBRE did not immediately respond to a request for comment.

Chelsea Lighting wasn’t the only tenant making moves at 14 Penn Plaza recently.

Oil and gas industry infrastructure firm Techno Engineering expanded from 3,000 square feet to 7,000 square feet, according to Futersak.

Construction management and consulting firm M To-Pros Development signed a 3,093-square-foot lease on the 21st floor of the property for a term of seven years and five months, in a relocation from 501 Seventh Avenue, according to tenant broker Lee & Associates NYC.

And commercial real estate brokerage Blue mountain capital took 1,260 square feet on the 22nd floor for a length of five and a half years, with plans to relocate from 379 West Broadway.

“After touring several office options around Penn Station, both tenants were drawn to 14 Penn Plaza because of the building’s incredible light and views, along with its unbeatable location directly across from Penn Station,” Woody King of Lee & Associates, who represented both tenants, said in a statement. 

M To-Pros plans to occupy the building in November, while Blue Mountain is moving in this month. Futersak represented the landlord in both deals.

“The building also has a strong presence of real estate firms, which made it particularly attractive for these tenants and created a natural fit within the existing tenant roster,” King added.

Mark Hallum can be reached at mhallum@commercialobserver.com.