Jason Pizer of building owner Trinity Real Estate negotiated the transaction with David Badner of Norman Bobrow, who represented NTV. Published asking rents for first-floor retail in the eight-story building are $35 per sf and Pizer tells GlobeSt.com that the five-year lease was signed "in the mid-$30s." Fourth-floor space reportedly carries an asking rent of $29 per sf and Pizer says the office component of the deal closed within a dollar of the asking price.
"This transaction is a prime example of the dynamic tenant base and varying types of companies that are drawn to the Hudson Square area," states Pizer. "The space, ownership and growing business community made 304 Hudson St. an ideal location to house NTV International's broadcasting operations."
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