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Arista Inks Three-Floor Deal at 888 Seventh Ave.

NEW YORK CITY-The legendary record label trades 10 floors for three, though its total footage remains nearly the same. Colliers ABR represented Arista in the 11-year sublease deal, while Cushman & Wakefield represented sublessor Random House.

By Glen Thompson | Updated on November 21, 2002

NEW YORK CITY-Arista Records’ hotly anticipated move from its current offices at 6 W. 57th St.–the Arista Building–to three floors at Vornado’s 888 Seventh Ave. will happen during the second quarter of 2003. Arista has signed a sublease deal with publisher Random House for 57,145 sf at the 46-story property.

Colliers ABR Inc. senior managing director Paul Mas and director Mark Furst represented Arista in negotiating the 11-year sublease. Cushman & Wakefield vice chairman Donald DiRenzo Sr. and director Emmett Noonan brokered for sublessor Random House.

The three-floor space is nearly as large as the legendary record company’s current Solow Building Co. quarters, where Arista occupies all 10 office floors for a total of 60,000 sf. Financial details of the new lease are not being disclosed, but published asking rents for sublease space at the 866,357-sf property range from $30 to $50 per sf.

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