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Commercial Observer
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Edited by Jotham Sederstrom | Jsederstrom@observer.com

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Thursday March 28, 2013
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Ad Agency Omnicom Expands at 195 Broadway

BY BILLY GRAY

The advertising agency Omnicom continued to build on its Lower Manhattan footprint by leasing an additional 26,414 square feet at 195 Broadway, The Commercial Observer has learned.

The firm now occupies 295,294 square feet in the 29-story, 1.1-million-square-foot tower, which is now 100 percent occupied.

Lee Feld of Feld Real Estate represented the tenant. David C. Berkey and Andrew Wiener represented the building owner, L&L Holding Company, in-house. Asking rent was $47 per square foot.

"We had another deal pending on this space," Mr. Berkey said. "That drove Omnicom to accelerate their decision and ask me to curtail those other negotiations." He said the company signed last week, and now operates across floors 16, 17, 18, 19, 20, 26, 27 and 28.

To read the full story, click here.

Hollywood Gym to Open First NYC Location

BY GUS DELAPORTE

Brick, a CrossFit gym, has signed a 10-year lease for just over 13,000 square feet at 257 West 17th Street, Steve Rappaport, senior managing director at Sinvin Real Estate, who represented the tenant, told The Commercial Observer.

Asking rents were $75 per square foot based on the 7,200-square-foot ground floor. The lease also includes 5,900 square feet on the building’s lower level. The space was formerly a D’Agostino’s supermarket.

The Chelsea location will be the fitness chain’s first in New York. Currently, Brick operates a gym in West Hollywood, Calif.

To read the full story, click here.

Shutterstock Relocates to Empire State Building

BY AL BARBARINO

Image-licensing company Shutterstock is relocating to the Empire State Building, according to a published report.

The tech startup signed a lease for more than 80,000 square feet on two whole floors of the building, leaving behind 60 Broad Street after the addition of 50 employees following its public offering in October maxed out that space, The Wall Street Journal reported earlier this week.

“We’ve been growing, and what we want is a more collaborative, open environment,” Shutterstock CEO Jon Oringer told The Journal. “We were looking for really big floor plates, but if you want to go around there [in Midtown], you’d have to look at three or four floors to get the same amount of space.”

To read the full story, click here.

Thursday's Must-Attend Real Estate Events

BY MICHAEL EWING

Join Crain’s for its morning conference on moving New York forward after Superstorm Sandy. Howard Glaser, director of state operations and senior policy adviser to the governor, will give the keynote address about ways New York can recover and deal with future disasters. Tickets are $259 per person, with a table of 10 running for $2,590.
Crain’s Rebuilding New York Conference, Sheraton New York Times Square, 811 Seventh Avenue; 8am to 12pm, contact crainsevents@crainsnewyork.com for more information.

The second annual NYC Finance Expo is set to kick off this year on Thursday in Midtown. Join more than 1,500 professionals from the commercial and residential real estate industry in a daylong expo featuring four panels, 40 speakers and 40 exhibits. Make sure to register before April 1 to receive the general admission rate of $80. Tickets at the door are $150.
NYC Finance Expo 2013, New York City Bar Building, 42 West 44th Street; 8 am to 5pm, contact Anthony Kazazis at ak@nycnetworkgroup.com or (646) 210-2545 for more information.

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