Transit/Cheks Moves to 20,850-SF Yahoo Space

NEW YORK CITY-TransitCenter Inc., the nonprofit issuer of Transit/Cheks, has replaced its Two World Trade Center offices with a 20,850-sf space on the 15th floor at 1065 Ave. of the Americas. The space was leased by Yahoo, which voluntarily terminated its lease with building owner TrizecHahn.

Marcus Rayner, Jane Roundell and Giles Wrench of CRESA Partners/NY represented Yahoo in the lease termination while Bruce Crawford represented TrizecHahn. Arthur Lerner, Michael Ippolito Dan Katcher of Newmark represented TransitCenter Inc. in the new lease.

While details of the TransitCenter lease were not released, Rayner says in a statement, “This is an example of the trend of building owners moving to recapture space since Sept. 11 to secure long-term occupancy of their buildings.” Asking prices for sublet space on the 11th floor of the building are currently $37.50 per sf.