A reader emailed us, \u201cWhy does your column run so many lease stories? Isn\u2019t there other news?\u201d
Well, right now, offices leases ARE the news. Manhattan\u2019s space-gobbling frenzy is a thing to behold. <\/p>\n
Neither the pandemic\u2019s supposed work-from-home impact, nor the election of a Marxist mayor, nor wars in Europe and the Middle East made a dent in companies\u2019 confidence in the city.<\/p>\n
Three leases for 182,000 were recently signed for Swig Company\u2019s 1411 Broadway. Google Maps<\/p>\n
Aegon Ltd. has chosen 125 W. 57th St. for its new US headquarters. Google Maps<\/p>\n
Here are some recent, market-moving deals.<\/p>\n
Three unreported leases signed within the past two months totaled 182,000 square feet at Swig Company\u2019s repositioned 1411 Broadway at West 39th Street.<\/p>\n
Zeta Global is moving from 3 Park Ave. and doubling its Manhattan footprint with 50,522 square feet; apparel manufacturer Republic Clothing Corp. converted a sublease into an 81,000 square-foot direct lease; and South Korean beauty conglomerate Amorepacific is moving from 1407 Broadway to 50,522 square feet at 1411.<\/p>\n
The 1.3 million square-foot tower, recently modernized to the tune of $100 million, saw more than 566,000 square feet of leasing over the past 18 months, bringing it to 90% occupancy.<\/p>\n
CBRE\u2019s Paul Amrich, Neil King, Emily Chabrier and Kelly Tipton team repped Swig alongside Hines, the asset and property manager. Asking rents range between $72 and $110.<\/p>\n
Meanwhile, international financial firm Aegon Ltd., which is rebranding itself as Transamerica Inc., chose Alchemy-ABR\u2019s new 125 W. 57th St. for its US headquarters. The lease for 20,600 square feet follows a deal with Anchorage Capital Advisors.<\/p>\n
Sorry readers, right now, offices leases ARE the news. rmbarricarte \u2013 stock.adobe.com<\/p>\n
The landlord was repped by JLL\u2019s Mitchell Konsker, Kristen Morgan, Christine Colley, Kate Roush and Dan Turkewitz. Cushman & Wakefield\u2019s Barry Zeller and David Downey acted for Aegon.<\/p>\n
The 265,000 square-foot project previously lured Eldridge Industries, Jadian Capital and Kingdon Capital Management. The momentum has filled over 75% of the building in just two years. In addition, Ten Five Hospitality, creator of Mother Wolf restaurants in other cities, leased the retail space for a \u201cnew concept.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"A reader emailed us, \u201cWhy does your column run so many lease stories? Isn\u2019t there other news?\u201dWell, right…\n","protected":false},"author":2,"featured_media":333283,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[288,1489,75,84,83,9,24,63,2344,467,3274],"class_list":["post-333282","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-business","tag-commercial-real-estate","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc","tag-office-space","tag-park-avenue","tag-realty-check"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/333282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=333282"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/333282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/333283"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=333282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=333282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=333282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}