Business suites provider secures 4th NYC site

By Yaffi Spodek | September 01, 2010 04:30PM

Reception area, executive office and conference room at Jay Suites’ 369 Lexington Avenue location

Jay Suites has just inked a deal for its fourth New York City location, at 30 Broad Street in the Financial District, company President Juda Srour told The Real Deal, and is scouting out sites in Chelsea and The Plaza District for three more locations.

Jay Suites — a business suites provider which rents out fully furnished office spaces to both corporate clients and small businesses — signed a 13-year lease last Tuesday with Gotham Holdings for the entire 14th floor of the 50-story building at the corner of Broad Street and Exchange Place, which is adjacent to the New York Stock Exchange.

The 16,000-square-foot space will be fully renovated and ready for lease by Dec. 1, Srour said. Rents will range from $800 a month to $4,000 for office spaces of 100 square feet to 3,000 square feet.

“The space is ideal for start-up companies and corporate companies that need a location in Manhattan with fully furnished offices,” Srour said.

Jay Suites is a three-year old-venture run by brothers Juda and Jack Srour, the company’s CEO.

The company recently signed a 10-year lease for 16,796 square feet at 1370 Broadway, a deal which was finalized in mid-July. Though the space — the fifth floor of the 17-story building, between 36th and 37th streets — won’t be open until Nov. 1, several suites have been snapped up already.

“People have expressed interest and we have pre-sold five suites on Broadway,” Juda said. “We are very excited to open these new places and to have such great locations by all the main subway lines.”

Jay Suites’ other two offices, which are up and running, are at 369 Lexington Avenue between 40th and 41st streets near Grand Central, and at 2 West 46th Street at Fifth Avenue in the Rockefeller District. The business centers are fully furnished with secured Internet and phone access, as well a reception area, conference rooms, copiers and a daily cleaning staff.

One current client at the Grand Central location is Regency Insurance, Juda said, along with several law firms, real estate brokerages and entrepreneurs.