Wednesday June 26, 2013
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199 Water Street Approaches Full Occupancy |
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BY GUS DELAPORTE
Two leases announced last week have brought 199 Water Street, which was battered last year by Hurricane Sandy, to 97 percent occupancy, with just the 34,792-square-foot 15th floor available at the 1.1-million-square-foot Jack Resnick & Sons property.
The largest of the transactions was NYCHSRO/MedReview Inc.’s 10-year lease for the entire 36,985-square-foot 27th floor. The tenant, a nonprofit medical organization, has been a longtime subtenant in the building but recently signed a direct lease, effective January 1, 2015.
In a new lease, The WeissComm Group has secured the entire 35,454-square-foot 14th floor at 199 Water Street. The public relations agency, which specializes in the healthcare, consumer products and biotech industries, will be relocating downtown from 114 Fifth Avenue.
To read the full story, click here.
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Williamsburg Continues White Hot Streak with Sales of Six Mixed-Use Buildings |
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BY BILLY GRAY
Six mixed-use buildings in or near Williamsburg's fast-evolving southside sold for $27 million. An investment group led by Waterbridge Capital LLC acquired the properties--185 North 3rd Street, 170 South 1st Street, 72 Box Street, 626 Driggs Avenue, 280 Metropolitan Avenue and 290 Metropolitan Avenue--from 170 South First Street LLC.
Peter E. Sabesan, a principal at Coldwell Banker Commercial Alliance represented the buyer and seller.
“We were working with six separate parcels, which made the sale inherently complicated,” Mr. Sabesan said in a prepared statement. “But each of these properties offers opportunities for retail and/or residential development in a robust market and we were able to bring all of the parties to the table quickly and amicably.”
To read the full story, click here.
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Bernardo Fashions Renews at Outerwear Bldg. |
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BY AL BARBARINO
Bernardo Fashions has signed a six-year, 11,000-square-foot lease renewal at The Outerwear Building at 463 Seventh Avenue, where landlord Arsenal Company is resisting an influx of creative tenants creeping into the Fashion Corridor from Midtown South.
“A lot of the buildings in the area are staying away from apparel, but we are embracing it – so for us it was important that we retain this tenant,” said David Levy of Adams & Company, who represented both parties in the transaction. “The whole transit triangle area is gaining a lot of momentum from more creative companies that are now heading towards our area from Midtown South.”
Asking rents were $44 per square foot for the space. The 22-story building has 24/7 access and security in addition to newly-renovated elevators and windows. Notable tenants include OSP Group, Henry Doneger Associates, ADJMI Apparel Group and J. Mendel, which host showrooms and offices throughout the building. Retail tenants include Federal Express, Andrew's Coffee Shop.
To read the full story, click here.
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Wednesday's Must-Attend Real Estate Events |
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BY MICHAEL EWING
CoreNet Workshops Series will be hosting a high-level overview of electrical systems. The seminar will provide an overview of how power and data and telecom reach a floor and are distributed through it. Please note that this is a members-only event. Workshop: Electric 101, Herman Miller, 1177 Avenue of the Americas, 11:30am-1:30pm; visit www.corenetglobal.org for more information.
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