The Real Deal New York

Jay-Z’s 40/40 Club signs lease for office space on West 36th Street

April 29, 2011 03:35PM
By Adam Pincus

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255 West 36th Street and Jay-Z’s 40-40 Club

The offices for Jay-Z’s 40/40 Club are moving from the club itself to an upper-floor location about a mile away at 255 West 36th Street, the broker for new landlord Triangle Assets told The Real Deal.

Businessman and rapper Jay-Z, who’s real name is Shawn Carter, along with partners Desiree Gonzalez and Juan Perez, opened the 40/40 Club at 6 West 25th Street in 2003. That first sports bar and club started a chain, and last year the club signed an agreement with Delaware North Companies to bring the sports bar concept to airports around the country.

The office needs of the club outgrew the space available, and the company is now taking about 4,000 square feet on the 15th floor of the 16-story building between Seventh and Eighth avenues, said Judah Srour, CEO of furnished suites provider Jay Suites, which represented the landlord. The final terms of the five-year deal were not revealed, but the asking rent was $30 per square foot. They are expected to move in to the space mid-May.

Srour said representatives of Jay-Z’s club liked the location of the 120,000-square-foot building, which recently attracted renters such as the Consulate of Honduras. “It is great to have such tenants in the building,” Srour said.

Alan Grossman of ARG Realty Consultants represented Carter’s club, Srour said. Grossman, a spokesperson for the club and the landlord declined to comment. Roc Nation, Carter’s entertainment company, did not respond to a request for comment.

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