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06/21/2013

Hi There,

Every week we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.

NYMAG Goes Direct at One Hudson Square

New York Media, who publishes the New York Magazine, signed a lease renewal for the entire 4th floor at 75 Varick Street. NYMAG will pay rent in the low $40s PSF directly to Trinity, after previously paying rent in the mid $30s PSF to its sublessor, Getty Images.

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5W Public Relations Subleases at 1166 AoA

5W Public Relations will sublease 38,000 SQFT on the fourth floor of 1166 Avenue of the Americas from D.E. Shaw & Co. The sublessor's rent for the space is over $60 PSF, but 5WPR will be paying less than $40 PSF. Asking rent for the fourth floor was $44.
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A Tale of Two Leases on West 26th Street

Recyclebank recently signed a five year lease for 17,000 SQFT at 151 West 26th Street with rent around $40 PSF. Five blocks to the west, another tenant will be paying almost 40% more: Under Armour leased 15,000 SQFT at the Starrett-Lehigh Building on 601 West 26th Street with rent in the mid $50s PSF. The higher rent could be explained by the popularity of West Chelsea as well as RXR's efforts to secure top rents in the building post its 2011 acquisition.

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06/21/2013 - 09:59

Source

CompStak

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