Every week we compile a digest of the most interesting recent deals from the CompStak database.
Every week we compile a digest of the most interesting recent deals from the CompStak database. We hope you will find the information helpful.
H&M Takes Three Floors at 110 Fifth
The Swedish retailer will lease 48,846 SF on the top three floors of 110 Fifth Avenue. The starting rent will be in the $60s PSF, and the tenant will receive 10 months of free rent and over $50 in TI. The high rent ($15 PSF above the overall average rent for Midtown South) can be explained by the high floors and prime location.
Puig Pays Premium for the Penthouse Floor at 183 Madison
Puig, the fashion and fragrance firm from Barcelone is leasing the 19th floor of 183 Madison Avenue, a 7,240 SF office with a terrace. Puig will pay rent starting in the mid-$60s PSF, just a little below the asking rent. Last year Spector Group leased a similar size office on the second floor of the building for rent in the mid-$40s.
Discounted Rent on Extension and Expansion
Dice Holdings signed an extension on its 7,487 SF lease and took an additional 4,520 SF for a total of 12,007 SF at 1040 Avenue of the Americas. The new starting rent is lower then Dice's current rent, but the escalations for the new lease are higher. Dice will receive four months of free rent and TI's of $15 PSF.