Top EB-5 firm signs for 108K sf in Midtown

Asking rent at Empire State Realty's 1400 Broadway was $59 psf

New York /
Sep.September 20, 2017 09:30 AM

The global immigration firm Fragomen, Del Rey, Bernsen & Loewy may as well be moving to a new country.

The company, based Downtown, signed a 16-year lease for 108,000 square feet at 1400 Broadway at West 38th Street. The asking rent for the space — on floors eight through 10 — was $59 per square foot, the New York Post reported.

With 40 offices worldwide, Fragomen’s New York office is currently at 7 Hanover Square.

Fragomen is a top EB-5 firm, and has been a big donor to New York Sen. Chuck Schumer, who championed an extension of the visa program last year.

Anthony Malkin’s REIT picked up the ground lease for 1400 Broadway for roughly $310 million in 2014. Other tenants at 1400 Broadway include Burlington Coat Factory, which signed a lease renewal in October, as well as financial services firm OnDeck Capital. [NYP] E.B. Solomont


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