Both deals were driven by a combination of economics and changes in long-term business strategies, according to Studley's Key Otomo, managing director, who with Matthew Barlow, executive vice president, and Jason Perla, associate consultant, represented the Foundation in its 10-year deal. Otomo and Michael Goldman, executive managing director, represented Kanematsu. Billy Cohen and Matthew Leon of Newmark Inc. represented Rockrose Development Corp., ownership of 152 W. 57th St, while Robert Lowe of Cushman & Wakefield spoke for Time Warner, owner of 75 Rockefeller Plaza.

In fact, Japanese-native Otomo and his Studley team have created a specialty Japanese niche practice in the market. He says that Studley's expertise in tenant representation "resonates with the Japanese business philosophy."

The Japan Foundation will move into its new space in the third quarter of 2005. Office rents at the site, also known as Carnegie Hall Tower, are in the mid-$60 to $90 per-sf range. Other tenants at the 60-story, 547,000-sf building include Interactive Corp., Fenway Partners Inc., Kingdom Capital and Grubman, Indursky, Schindler. Kanematsu, which signed a deal for just under 10 years, plans to move into its new headquarters in June. It will join Robinson Lehr Montgomery, AOL, Warner Music Group, and Quinstar Group, among other tenants, in the 33-story 560,000-sf building.