New York City
Whole Foods has signed on for 36,000 square feet of retail space at the forthcoming 250 E. 57th St., its first East Side location and the 12th metro area lease it’s signed with the help of brokerage Northwest Atlantic. The new building will also house PS 59 and the High School of Art and Design; a groundbreaking ceremony took place on Friday. The natural foods retailer and landlord World-Wide Group began discussions on the site in 2006. “We had a deal signed in 2008, but when the economy went south the landlord couldn’t get financing,” says Chase Welles, EVP of Northwest Atlantic, in a release. “Over the last year we reworked the deal for a smaller building that the developer was able to construct.”
Evidently finding SL Green Realty Corp.’s 100 Park Ave. conducive to growing its business, a Wells Fargo Bank subsidiary has expanded by 12,065 square feet on a portion of the second floor of 100 Park. Wells Fargo Trade Capital Services now occupies a total of 69,226 square feet at the 825,815-square-foot office tower. It’s the second expansion in a little more a year for the tenant. James Travers and James Fish of Travers Realty Corp. represented Wells Fargo in the transaction, while a Cushman & Wakefield team of Paul Glickman, Alex Chudnoff, Tara Stacom, Mitti Liebersohn, Diana Biasotti and Jonathan Tootell acted on behalf of SL Green.
Adams & Co. recently brokered a five-year, 7,950-square-foot lease at 119 5th Ave. for interior design firm Wilson Associates. Jeffrey Schwartz of Adams & Co. represented landlord 119 Fifth Ave. Corp. and Robert Corbi of Jones Lange LaSalle represented the tenant in the transaction.
Jones Lang LaSalle has completed three lease transactions totaling 17,100 square feet for owner Boston Properties at 540 Madison Ave. Edelman Financial Services LLC signed for 3,200 square feet, SK Telecom leased 6,950 square feet and Molo Lamken LLP took 6,950 square feet at the 300,000-square-foot office building. In all three deals, a JLL team of Cynthia Wasserberger, Randy Abend and Amanda Saltzman represented Boston Properties. Edelman Financial was represented by John Termini with CB Richard Ellis. SK Telecom was represented by Newmark Knight Frank’s Matt Leon. Molo Lamken was represented by Jarod Stern of Studley.
KBL Group International has opted for 17,939 square feet at 1407 Broadway for its New York headquarters. Grant Greenspan of the Kaufman Organization represented the landlord, the Lightstone Group, while Marc Schoen of Savitt Partners negotiated for the apparel manufacturer. Lease terms were not disclosed; asking rents at the 42-story office tower are $42 per square foot.
The Children’s Museum of the Arts has signed a lease for 10,673 square feet of ground floor retail space at Trinity Real Estate’s 897,099-square-foot 345 Hudson St. Trinity represented itself in negotiations; Alexandra Akira of Cushman & Wakefield represented the museum. Asking rent for the ground floor space was in the high $30s per square foot.
Weill Cornell Medical College has leased 10,500 square feet of the Falchi Building at 31-00 47th Ave. in Long Island City, Queens. The college will use the space to design, build and create “prototype” lab facilities for a new bioresearch facility on Manhattan’s Upper East Side. Jeffrey Unger of Kalmon Dolgin Affiliates provided in-house representation for the 632,000-square-foot mixed-use property’s ownership. John Adams of John L. Adams Associates represented the tenant. “Weill Cornell Medical College was attracted to the Falchi Building because of its very close proximity to their planned biomedical research facility in Manhattan via bridge and tunnel, as well as the great public transportation access,” Unger says in a release.
Westchester County
Full-service litigation firm Marin Goodman LLP has relocated its headquarters from Manhattan to 8,895 square feet at 500 Mamaroneck Ave. in Harrison, NY. The law firm, which also has officesin New Jersey, signed on for 10 years. Jeffrey Newman of Malkin Properties represented the building ownership; Richard Levine and David Block of CB Richard Ellis represented Marin Goodman.
Fairfield County
Al Mirin and Silvia Pogosyan of CB Richard Ellis’ private client group of Westchester and Fairfield counties arranged four sales of five properties in the region with a total sales price of $7.5 million. These sales included a former TD Banknorth branch at 100 Post Rd. E. in Westport, CT that sold for $2.3 million; the combined sale of One Technology Plaza and 153 W. Cedar St. in Norwalk, CT for $1.2 million; a $3.1-million joint venture on the former Maples Inn located at 179 Oenoke Ridge Rd. in New Canaan, CT; and 987 Central Park Ave. in Yonkers, NY for $900,000.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
