Every week we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful
Every week we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
Architects Migrating Downtown
Swanke Hayden Connell Architects will be relocating to FiDi's 100 Broadway. The firm signed a four-year lease and will pay rent in the mid $30s PSF. Swanke's rent is in line with recent leases in the building, such as Polaris, and is slightly below the high $30s PSF asking rent. The architectural firm will be leaving SoHo (its current office is in The Puck Building at 295 Lafayette), a submarket with average office rents north of $50 PSF in the past year.
Times Square Move Brings Rent Savings
Gotham will be relocating from 150 East 42nd Street, where companies such as Meister Seelig & Fein recently signed leases for rent in the mid $50s PSF, to 104 West 40th Street. A subsidiary of IPG, Gotham will pay starting rent below $50 PSF at the new location, and its 27,478 SQFT installation will be capped at $65 PSF. The company will receive almost a year in free rent. IPG recently signed a lease just around the corner, at Malkin's 1400 Broadway, for rent in the mid $40s PSF as well.
Jeweler Expands at 415 Madison
CIRCA Jewels recently signed a lease to expand at 415 Madison Avenue, moving from its 4,540 SQFT space on the 23rd floor to a more spacious 9,669 SQFT on the 18th floor. The firm will maintain its additional 7,531 SQFT space on the 19th floor. CIRCA is currently paying rent in the mid $40s PSF, and the new lease will start in the high $40s PSF and include 6 months of free rent.
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