Developer Charles Cohen is suing W&H Properties, alleging that the company violated a long-term lease at its 1400 Broadway tower by failing to obtain permission to renovate the 38-story property between 38th and 39th streets, Crain’s reported. Cohen is seeking to have the lease terminated. The lease began in 1962 and could be extended all the way to 2063. Last week, the New York Times reported that Cohen was trying to terminate W&H Properties’ lease at 112 West 34th Street for the same reason. “We are seeing a pattern of arrogance from W&H,” said Warren Estis, a partner at Rosenberg & Estis, which is presenting Cohen. [more]
Posts Tagged ‘1400 broadway’
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Kohl’s is moving its New York design office from 1395 Broadway to 1400 Broadway — a location with more than twice the space of the original office, at 38th Street. The discount department store brand will open its new design space in June, according to an announcement made this week, and will use the space to manage its licensed brands, including Candies, Chaps Home, and Simply Vera, a spin-off of the popular Vera Wang line. A statement from the tenant’s broker, Alexander Chudnoff of Cushman & Wakefield, indicated that Kohl’s will lease the entire 19th and 20th floors, encompassing approximately 60,366 rentable square feet. TRD
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From the October issue: As commercial buildings change hands and landlords seek to squeeze more
profit out of their properties, full-service brokerage firms are
sharpening their knives for what insiders believe will be a feeding
frenzy for new office leasing opportunities. A building’s leasing agent — a firm such as CB Richard Ellis or
Cushman & Wakefield — represents the landlord in leasing
negotiations, and such contracts often are packaged with overall
building management. Unlike the residential new development condo market, where buildings
change marketing agencies frequently, most agents at commercial
buildings remain in place at a building for years with very little
turnover, records show.


