NYC’s Top 10 Office Leases – April 2016
(See chart below)
For the first time this year, two outer-borough deals appear on the list of the 10 biggest office leases of the month.
Madewell, a J. Crew line, claimed the fifth largest office lease in April with its 60,000-square-foot move to “The Factory” building in Long Island City. And shared workplace provider Co|Workers took a 29,000-square-foot space in Bushwick, checking in at number nine in TRData’s monthly ranking of office deals by total square footage.
In total, April’s top 10 offices leases (with known tenants) accounted for a total of 1.25 million square feet, with an average of 124,642 square feet per lease. Of that 1.25 million square feet, roughly a third of it went to NYU Langone Medical Center, which took the entire 389,522 square feet at Columbia Property Trust’s 222 East 41st Street.
The second-largest deal of the month came at Vornado Realty Trust’s 90 Park Avenue, where accounting firm PricewaterhouseCooper snagged 240,000 square feet.
CBRE was the top tenant-side brokerage of the month with 466,088 square feet leased across three deals. On the landlord side, Newmark Grubb Knight Frank was the biggest, brokering three deals totaling 121,650 square feet.
As for the building owners themselves, SL Green Realty, the city’s largest office landlord, leased more individual spaces than any other landlord on the list, with three deals totaling 260,782 square feet.
— Reginald Barley, Jr.
|Top 10 NYC Office Leases in April|
|Apr. 1 - Apr. 30 2016|
|Address||Neighborhood||Square Footage||Tenant||Tenant brokerage, broker||Landlord||Landlord brokerage, broker|
|222 East 41st Street||Midtown||389,522||NYU Langone Medical Center||Cushman & Wakefield, Bruce Mosler, Mark Mandell||Columbia Property Trust||CBRE, Neil King, James Ackerson, Paul Amrich, Jackie Marshall|
|90 Park Avenue||Midtown||240,605||PwC||CBRE, Timothy Dempsey, Greg Maurer-Hollaender||Vornado Realty Trust||Vornado Realty Trust, Andrew Ackerman, Jared Silverman, Josh Glick|
|1166 Avenue of the Americas||Midtown||195,375||D. E. Shaw & Company||CBRE, Roger Griswold, Timothy Dempsey, Munish Viralam||RXR Realty||JLL, Paul Glickman, Cynthia Wasserberger, Jonathan Fanuzzi, Diana Biasotti|
|11 Madison Avenue||Gramercy||186,396||Credit Suisse AG||CBRE, Lewis Miller, Jason Gorman, Paul Stimpfle and Munish Viralam||SL Green Realty||SL Green Realty, Natasha Brown|
|30-30 47th Avenue (Queens)||Long Island City||59,680||J. Crew||Savills Studley, David Goldstein, Gabriel Marans||Invesco||Newmark Grubb Knight Frank, Jordan Gosin, Howard Kesseler, Brian Waterman|
|1633 Broadway||Midtown||52,555||Vedder Price||Savills Studley, David Goldstein, Scott Weiss, Jason Perla||Paramount Group||Paramount Group, Peter Brindley|
|1185 Avenue of the Americas||Midtown||44,278||Reis||n/a||SL Green Realty||Cushman & Wakefield, Adam Ardise, Richard Bernstein, Bryan Boisi|
|114 West 41st Street||Midtown||31,862||Quartet Health||JLL, Jason Schwartzenberg, Dan Santagata||The Blackstone Group||Newmark Grubb Knight Frank , Scott Klau, Erik Harris, Ben Shapiro, Zach Weil|
|280 Park Avenue||Midtown||30,108||Teneo Holdings||CBRE - Matthew McBride||SL Green Realty||Newmark Grubb Knight Frank, Michael Horn, Matt Lorberbaum, Neil Goldmacher|
|839-845 Broadway (Brooklyn)||Bushwick||28,800||Cowork|rs||n/a||Deergrow Developments||n/a|
|Source: TRD reporting and CoStar Group data|
Manhattan’s Top 10 Office Leases – March 2016
(See chart below)
Facebook is taking over New York City—or it sure looked that way during March.
March’s top 10 ranking of reported office leases has the social media giant taking three spots, grabbing a total of 280,668 square feet between Gramercy and Greenwich Village.
The complete top 10 includes a total of 1,404,912 square feet leased with an average of 140,491 square feet signed per deal. Midtown, Gramercy, and the Financial District registered three deals each. Only deals in which the tenants are known are included in the count.
The largest lease on the month by far was McGraw Hill Financial’s 900,027-square-foot contract at 55 Water Street, counting for nearly double the combined space in the rest of the March ranking. Other notable deals include shared office space company Convene’s 35,698 square feet at 114 West 47th Street in Midtown, giving WeWork just a little competition. Video production company PostWorks NY took 50,000 square feet at Ivanhoe Cambridge’s 1411 Broadway and new media company Mic snagged new digs at One World Trade Center.
Colliers International was particularly present on the tenant brokerage side with four deals, three of which were for Facebook. CBRE led the pack on the landlord representation side, closing the largest deal on behalf of Retirement Systems of Alabama in their lease to McGraw Hill Financial at 55 Water Street. JLL, however, had the most landlord representations with 2 deals totaling 88,722 square feet.
Landlord the Durst Organization leased two spaces leased this month, one to Convene 114 West 47th Street and the other to Mic Network’s One World Trade Center. — Reginald Barley, Jr.
Top Manhattan Offices Leases, March 2016
March 1 - March 31 2016
Address Neighborhood Square Footage Tenant Tenant brokerage, broker Landlord Landlord brokerage, broker
55 Water Street Financial District 900,027 McGraw Hill Financial CBRE, Paul Myers, Ken Meyerson, Michael Liss, Cara Chayet Retirement Systems of Alabama CBRE, Howard Fiddle, Mary Ann Tighe, David Caperna, Evan Haskell
225 Park Avenue South Gramercy 159,568 Colliers International, Robert Tunis, Eric Ferriello, Warren Wixen Orda Management Newmark Grubb Knight Frank, Brian Waterman, Brent Ozarowski, Courtney Adham
770 Broadway Greenwich Village 80,000 Colliers International, Robert Tunis, Warren Wixen Vornado Realty Trust Vornado Realty Trust, Glen Weiss
1411 Broadway Midtown 49,690 PostWorks NY Savitt Partners, Marc Schoen Ivanhoe Cambridge JLL, Frank Doyle, David Kleiner, Clark Finney, Kevin West, Amanda Bokman
233 Park Avenue South Gramercy 41,100 Colliers International, Robert Tunis, Eric Ferriello, Warren Wixen Orda Management RXR Realty, Jordan Berger
350 Madison Avenue Midtown 39,032 World Economic Forum USA Newmark Grubb Knight Frank, Scott Brown, Robert Silver RFR Realty RFR Realty and JLL, Daniel Turkewitz, Mitchell Konsker, Alexander Chudnoff, Oliver Katcher, Dana Biasotti, AJ Camhi
One World Trade Center Financial District 36,099 Mic Network Transwestern, Rory Murphy The Durst Organization The Durst Organization and Cushman & Wakefield, Tara Stacom, Justin Royce, Barry Zeller, Peter Trivelas, Conner Daugstrup, Eric Engelhardt, Karen Kuznick
200 Park Avenue South Gramercy 35,698 Elizabeth Arden Colliers International, David Glassman, Joseph Cabrera, Michael Gordon Everett Realty ABS Partners Real Estate, Alan Friedman, Charles Conwell
114 West 47th Street Midtown 35,698 Convene CBRE, Michael Wellen, Rocco Laginestra, Jared Freede The Durst Organization The Durst Organization, Rocco Romeo, Ashley Gee, Thomas Bow
80 Broad Street Financial District 28,000 The Robert Allen Group Cushman & Wakefield, Jonathan Fein Broad Street Development Broad Street Development, Ramona Huegel, David Israni
Source: Leases signed between March 1 and March 31 2016 counting only those deals with known tenants,
according to CoStar and TRD reporting
Manhattan’s Top 10 Office Leases – February 2016
CBRE represented the most tenants in the ten largest leases disclosed that were signed last month, an analysis of CoStar Group data and industry sources, revealed.
The largest lease was the hedge fund Citadel Investment Group, represented by CBRE, which inked a 211,400-square-foot lease at L&L Holding’s 425 Park Avenue in Manhattan’s Plaza District.
That was followed by the growing cloud computing platform Salesforce.com, represented by Cushman & Wakefield, and which took a slightly smaller space at Callahan Capital Partners and Ivanhoe Cambridge’s 1095 Sixth Avenue. The firm signed up for 210,496 square feet.
Behind them was another CBRE team, that advised Swiss bank UBS in its lease at 299 Park Avenue. Rounding out the top five were two tenants represented by Colliers International. The first, Grovo Learning, took 70,140 at Two Trees Management’s 50 West 23rd Street, and Signature Bank, which took 62,231 square feet at Silverstein Properties 1177 Sixth Avenue. — Reginald Barley Jr., Adam Pincus
|Top 10 Manhattan Office Leases|
|Address||Neighborhood||Square Footage||Tenant||Tenant brokerage, broker||Landlord||Landlord brokerage, broker|
|425 Park Avenue||Midtown||211,400||Citadel Investment Group||CBRE, John Nugent, Andrew Sussman||L&L Holding Company||CBRE, Mary Ann Tighe, Sarah Pontius, Evan Haskell, Zakery Snider|
|1095 Sixth Avenue||Midtown||210,496||Salesforce.com||Cushman & Wakefield, Gus Field||Callahan Capital Partners and Ivanhoe Cambridge||Cushman & Wakefield, Ethan Silverstein, John Cefaly, Bruce Mosler, Robert Lowe|
|299 Park Avenue||Midtown||124,069||UBS Group||CBRE - Robert Alexander, Patrick Murphy, Douglas Lehman||Fisher Brothers Management||Fisher Brothers Management, Marc Packman, Jessica Kanfer|
|50 West 23rd Street||Midtown South||70,140||Grovo Learning||Colliers International, Robert Tunis, Eric Ferriello||Two Trees Management||Two Trees Management, Elizabeth Bueno, Dan Conlon|
|1177 Sixth Avenue||Midtown||62,231||Signature Bank||Colliers International, Michael T. Cohen, Andrew Roos, Howard Kaplowitz||Silverstein Properties||Silverstein Properties, Joseph Artusa, Roger Silverstein, Camille McGratty|
|1 Liberty Plaza||Lower Manhattan||44,025||ABM Industries||n/a||Brookfield Office Properties||Newmark Grubb Knight Frank, Peter Shimkin, Nick Berger, David Falk|
|4-8 West 58th Street||Midtown||40,170||Neiman Marcus||n/a||Solow Building Company||JLL, Howard Hersch, Scott Panzer, Steven Rotter|
|250 West 57th Street||Midtown||37,680||GuildNet||CBRE, Brian Gell, Laurence Briody||Empire State Realty Trust||Cushman & Wakefield, Sean Kearns, Harry Blair|
|555 West 57th Street||Midtown||35,112||CBS Broadcasting||n/a||SL Green Realty||SL Green Realty, Elaine Anazagasty, Larry Swiger, Jennifer Hahn|
|5 Penn Plaza||Midtown||27,877||GTA Americas||Savills Studley, David Goldstein, Gabriel Marans||Haymes Investment Company||CBRE, Peter Turchin, Stephen Eynon, Jason Pollen, David Caperna|
|Source: TRD reporting and CoStar|
Manhattan’s Top 10 Office Leases – January 2016
|Top 10 Manhattan Office Leases for January 2016|
|Address||Neighborhood||Square Footage||Tenant||Tenant representatives||Landlord||Landlord representatives|
|3 World Trade Center||Lower Manhattan||173,436||Group M||CBRE / Mary Ann Tighe, Gregory Tosko, Lauren Crowley, Brendan Herlihy||Silverstein Properties||Silverstein Properties / Jeremy Moss|
|220 East 42nd Street||Grand Central||167,003||Omnicom||Feld Real Estate / Lee Feld||SL Green Realty||SL Green Realty / Elaine Anazagasty, Larry Swiger, and Jennifer Hahn|
|1133 Sixth Avenue||Plaza District||132,400||ING||CBRE / Robert Stillman, Michael Geoghegan||Durst Organization||Rocco Romeo, Tom Bow/ Durst Organization|
|85 Broad Street||Lower Manhattan||85,733||Vox Media||CBRE / Jeff Fischer and JLL / Steven Rotter||MetLife and Beacon Capital Partners||Frank Doyle, Jonathan Schifrin/JLL|
|75 Ninth Avenue||Chelsea||82,870||NY1 News||Jamestown|
|200 Vesey Street||Lower Manhattan||74,439||American Express||n/a||Brookfield Office Properties||JLL / John Wheeler, Michael Berman and Clayton T. Kline|
|501 West 30th Street||Midtown||67,058||Sidewalk Labs||CBRE / Michael Laginestra, Rocco M. Laginestra, Christopher Corrinet and Chris Hogan||Triborough Bridge & Tunnel Auth.||The Related Companies / Stephen C. Winter|
|304-328 West 34th Street||Midtown||52,959||Music Choice||CBRE / Jason Gorman||SL Green Realty||SL Green Realty / David Amsterdam|
|195 Broadway||Lower Manhattan||41,982||Rocket Fuel||n/a||J.P. Morgan Investment Management||L&L Holding Company / Andrew Wiener and David Young|
|1330 Avenue of the Americas||Midtown||41,600||Silvercrest||Cushman & Wakefield / Eric Reimer||RXR Realty||RXR Property Management / William Elder and Lauren Ferrentino|
|Source: TRData analysis of CoStar Group and Colliers International data, for all leases with known tenants.|
Manhattan’s Top 10 Office Leases – December 2015
|Top 10 Manhattan Office Leases - December 2015|
|Rank||Address||Neighborhood||Square Footage||Tenant||Tenant brokerage, broker||Landlord||Landlord brokerage, broker|
|1||501 West 30th Street (10 Hudson Yards)||Hudson Yards||193,306||Boston Consulting Group||CBRE, Michael Geoghegan and Munish Viralam||Triborough Bridge & Tunnel Authority||CBRE, Ryan C. Alexander, Ben Fastenberg, Ross Zimbalist, Zakery Snider and Emily Jones|
|2||1133 Sixth Avenue||Times Square||132,400||ING North America Insurance||CBRE, Robert Stillman, Michael Geoghegan||The Durst Organization||The Durst Organization, Rocco Romeo, Thomas Bow, Ashlea Aaron, Ashley Gee|
|3||330 West 34th Street||Garment District||82,108||n/a||n/a||Vornado Realty Trust||Vornado Realty Trust, Craig Panzirer|
|4||575 Fifth Avenue||Grand Central||71,000||Barney's||CBRE||Beacon Capital Partners||CBRE, Keith Caggiano, Gregg Rothkin, David Caperna|
|5||85 Broad Street||Financial District||75,937||n/a||n/a||Beacon Capital Partners||JLL, Jonathan Schifrin, Cynthia Wasserberger, Frank Doyle|
|6||524 Broadway||Soho||75,000||WeWork||n/a||Tahl Propp Equities||Cushman & Wakefield, Whitney Anderson, Ethan Silverstein, Mark Mandell|
|7||1333 Broadway||Garment District||59,132||Alfred Dunner||Savitt Partners, Robert Savitt, Marc Schoen||Empire State Realty Trust||JLL, Benjamin Bass, Daniel Turkewitz, Alexander Chudnoff, Mitchell Konsker|
|8||1301-1315 Sixth Avenue||Columbus Circle||54,240||Oaktree Capital Management||CBRE, John Nugent.||Paramount Group||JLL, Frank Doyle, David Kleiner, Clark Finney|
|9||711 Third Avenue||Grand Central||49,731||Strategic Financial Solutions||MHP Real Estate Services, Joe Friedman||SL Green Realty||Douglas Elliman, Peter Gross, Louis Puopolo, Alexander Furst|
|10||125 West 25th Street||Chelsea||40,727||Peloton Interactive||Newmark Grubb Knight Frank, Ben Shapiro||Normandy Real Estate Partners||JLL, Matthew Astrachan, Mitchell Konsker, Adam Haber|
|Source: CoStar Group and TRData lease reporting|