Two Firms Take Midtown Space

NEW YORK CITY-Two Japanese organizations–one a non-profit and the other an international trading conglomerate—have inked deals for new office space in Midtown. The Japan Foundation, which promotes Japanese culture, international exchange and arranges grants for American artists and scholars, has relocated from the 39th floor of 152 W. 57th St., to 10,000 sf on the 17th floor. Kanematsu USA Inc. will move from 114 W. 47th St. to 13,496 sf on the 22nd floor of 75 Rockefeller Plaza.

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.”