New York City
BGB Communications, a pharmaceutical marketing and medical advertising firm, has relocated and expanded its headquarters to the top floor of 462 Broadway. The company—which was formerly at 99 Hudson Street—signed a 10-year, 25,000-square-foot lease to occupy the entire sixth floor of the 165,000-square-foot, six-story landmarked office building, located on Broadway at the corner of Grand Street. Asking rent for the space was $60 per square foot. Nicholas Farmakis, managing director of Studley represented BGB; and Mark Stein, SVP and Jason Vacker, VP, of Meringoff Properties acted on behalf of the landlord in the transaction.
DelShah Capital, LLC, a real estate debt acquisition, development and management company, has announced it purchased 58-60 Ninth Ave., in the meatpacking district, for $18.2 million. The 10,839-square-foot building includes 34 feet of frontage on Ninth Avenue. David Schechtman, executive managing director of Eastern Consolidated, brokered the transaction to DelShah Capital. Icon Realty Management was the seller of 58-60 Ninth Avenue. Jon Krieger, senior director of RKF, is the leasing agent for the building. The asking rent is $1.5 million per annum for the entire building on a triple net lease basis, or $400 per square foot for the ground floor and basement.
ABS Partners Real Estate, LLC has announced that it has completed a long-term lease with Elizabeth Arden and its famed Red Door Spa. The retail store and spa will occupy 10,000 square feet at 200 Park Avenue South, located on the northwest corner of Park Avenue South and 17th Street, anchoring the north end of Union Square. The landlord, 200 Park South Associates LLC, was represented by the ABS Partners team of president Gregg Schenker, and managing directors Mark Tergesen and John Gols, as well as CBRE SVP Gary Trock. Cushman & Wakefield's vice chairmen Joseph Cabrera and Edward Weiss, director Michael Gordon, and EVP Robert Gibson, represented Elizabeth Arden in the transaction.
DTZ, a UGL company, has announced it has negotiated a long-term, 8,901-square-foot lease at 48 W. 37th St. for BUILT NY INC, a New York-based lifestyle accessories brand. DTZ VP Giorgio Versea assisted by Joel Weinberg, associate VP, represented BUILT NY in the negotiations.The landlord, Elias Savada, was represented by David Levy, principal, of Adams & Co. BUILT NY INC. is relocating from 520 Broadway to consolidate business operations into one floor. The company's new site is a 1926, 18-story loft/creative space building.
DTZ also has announced that it negotiated a 8,511-square-foot lease expansion for Preqin, a financial intelligence firm, at One Grand Central Place, located at 60 E. 42nd Street. DTZ VP Giorgio Versea represented Preqin in lease negotiations while Ryan Kass, senior managing director of Newmark Grubb Knight Frank, represented the building owner, W&H Properties. One Grand Central Place is a vintage, 55-story, 1930 office tower situated between Madison and Park Avenue.
CBRE has announced the completion of a 4,500-square-foot lease at 125 Fifth Ave. for SHIFT Communications, a communications agency that also has offices in Boston and San Francisco. Arkady Smolyansky, senior associate, represented SHIFT in the deal. The ownership, Prime Properties Inc., was represented by CBRE's Stuart Siegel, SVP, and Matthew Bergey, first vice president. SHIFT's offices will take the entire fourth floor; the second and fifth floors remain vacant.
Lewis Baach PLLC, a law firm, has announced it signed a 3,867-square-foot lease at the Chrysler building. The firm's offices—its first New York City site—will open this month. It will operate in New York as Lewis Baach pllc Kaufmann Middlemiss. Handler Real Estate Organization's Scott Galin, principal, and Darell Handler, associate, represented Lewis Baach PLLC in the transaction. Tishman Speyer, the landlord, was represented in-house.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
