The Real Deal New York

These were September’s 10 biggest office leases in NYC

Amazon's 360K sf deal at 5 Manhattan West was the largest inked last month
By Ashley McHugh-Chiappone | October 03, 2017 03:00PM

Clockwise, from left: 5 Manhattan West, 195 Evergreen Avenue and 10 Hudson Yards

UPDATED, Oct. 3, 6:18 p.m.: The top offices leases made public in September span a diverse group of industries including retail, government, law and media.

Together, the 10 biggest office lease deals made public during the month totaled 1.238 million square feet, with online retailer Amazon inking the largest deal at Brookfield Property Partners’ 5 Manhattan West.

1) Amazon, 5 Manhattan West, Hudson Yards – 360,000 square feet

Amazon inked a 15-year lease for 360,000 square feet of office space at 5 Manhattan West, as its main location for its advertising hub. The e-commerce colossus will take the entire sixth and seventh floor of the 16-story building, as well as part of the eighth and 10th floors. Amazon is joining other notable tenants like JPMorgan Chase and Amazon-owned Whole Foods. Jeremiah Larkin, Duncan McCuaig and Alex Liscio represented the landlord, Brookfield Property Partners, in-house, alongside Cushman & Wakefield’s Bruce Mosler, Josh Kuriloff, Rob Lowe, Ethan Silverstein and Matthias Li. Derek Trulson, Josh Stuart, Bill Peters, Clay Nielson represented the tenant.

2) NYC Department of Citywide Administrative Services, 95 Evergreen Avenue, Bushwick – 158,150 square feet

The city agency inked a 20-year lease for 158,000 square feet at 95 Evergreen Avenue the former home of Schlitz Brewery. The city is relocating three Brooklyn offices to the five-story building. A Cushman & Wakefield team of Mitchell Arkin, Joseph Cirone and Remy Liebersohn represented the landlords, Savanna and Hornig Capital Partners. Robert Giglio, also of Cushman & Wakefield, represented the city in the transaction.

3) Guardian Life Insurance Co. of America, 10 Hudson Yards, Hudson Yards – 148,000 square feet

The insurance firm inked a sublease for 148,000 square feet at 10 Hudson Yards in the 52-story, 1.7 million square foot building. Guardian will take three floors at the building. Coach owns the space.

4) Fragomen, Del Rey, Bersen & Lowey, 1400 Broadway, Midtown South – 108,000 square feet

The global immigration firm signed a 108,000 square feet lease at 1400 Broadway. The lease is for 16 years for the 8th, 9th and 10th floor of the building. Asking rent was reportedly $59 a square foot. John Shaunfield, Seth Weinstein and Paul Ippolito of Newmark Knight Frank represented the tenant. Scott Klau, Erik Harris and Neil Rubin, also of NKF, represented the landlord, Empire State Realty Trust, alongside Keith Cody in-house.

5) Lewis Brisbois Bisgaard & Smith, 77 Water Street, Financial District – 100,952 square feet

The law firm renewed and expanded its lease for 15 years and 101,000 square feet at 77 Water Street. Currently, the firm occupies the 19th, 20th and 21st floors, and it will now occupy the 18th floor as well. Jonathan Larsen and Mitti Liebersohn of Avison Young represented the tenant. Michael Lenchner of Sage Realty represented the landlord the William Kaufman Organization in-house.

6) Group Nine Media, 568 Broadway, Soho – 100,000 square feet

The digital media company renewed and expanded its lease for 100,000 square feet at 568 Broadway. The lease enables the company to take over the entire 4th, 5th, 6th, 10th and 11th floors of the building. Derrick Ades, Ben Fastenberg, Tim Dempsey and Cara Chayet of CBRE represented the tenant. Steven Bauer, Howard Hersch and Brett Harvey represented the landlords, Aurora Capital Associates and Allied Partners, alongside Bonnie Shapiro of Allied Partners.

7) Third Point, 55 Hudson Yards, Hudson Yards – 75,000 square feet

Daniel Loeb’s $15 billion hedge fund inked a 10-year, 75,000 square foot lease at the 1.3-million-square-foot tower at 55 Hudson Yards. The company is slated to take the entire 50th and 51st floors, as well as half of the 49th floor of building upon completion. Daniel Turkewitz and Alexander Chudnoff of JLL represented the tenant, while Emily Jones, Bob Alexander and Howard Fiddle of CBRE represented the landlord, Related Companies, alongside Stephen Winter, Andrew Cantor and Jordan Bargas in-house.

8) New York City Department of Sanitation, 375 Pearl Street, Two Bridges – 72,180 square feet

The New York City department signed a 20-year lease for 72,000 square feet at 375 Pearl Street. George Keller and Robert Giglio of Cushman & Wakefield represented the tenant. Gerry Miovski and Gregg Rothkin of Sabey Data Center Properties represented the landlord in-house.

9) Convene, 2 Rector Street, Financial District – 58,000 square feet

The shared meeting space company inked a lease for 58,000 square feet at 2 Rector Street (also known as 101 Greenwich), which will be the company’s new headquarters. The landlord of the building is Cove Properties, which bought the office tower for $225 million in March 2016. CBRE’s Rocco Laginestra, Jared Freede and Michael Wellen represented the tenant, while JLL’s Mitch Konsker, Scott Cahaly, Clayton Kline and Kyle Young handled the deal for the landlord.

10) RadicalMedia, 453 Hudson Street, West Village – 57,000 square feet

The media company signed a lease for 57,000square feet at 453 Hudson Street. Trinity Real Estate is the landlord of the building.

Top 10 office leases in New York City reported September 2017
RankAddressSq. Ft.NeighborhoodTenantTenant representativeLandlordLandlord representativeEst. ppfTerm
15 Manhattan West360,000 sfHudson YardsAmazonJLL's Derek Trulson, Josh Stuart, Bill Peters, Clay NielsonBrookfield Property PartnersBrookfield Property Partners' Jeremiah Larkin, Duncan McCuaig, Alex Liscio; Cushman & Wakefield's Josh Kuriloff, Rob Lowe, Ethan Silverstein, Matthias Li15-years
295 Evergreen Avenue158,150 sfBushwickNYC Department of Citywide Administrative ServicesCushman & Wakefield's Robert GiglioSavanna; Hornig Capital PartnersCushman & Wakefield's Mitchell Arkin, Joseph Cirone and Remy Liebersohn20-years
310 Hudson Yards148,000 sfHudson YardsGuardian Life Insurance Co. of AmericaCoach Inc.$80/sqft
41400 Broadway108,000 sfMidtown SouthFragomen, Del Rey, Bersen & LoweyEmpire State Realty Trust$59/sqft16-years
577 Water Street100,952 sfFinancial DistrictLewis Brisbois Bisgaard & SmithAvison Young's Jonathan Larsen, Mitti LiebersohnSage RealtySage Realty's Michael Lenchner15-years
6568 Broadway100,000 sfSohoGroup Nine MediaCBRE's Derrick Ades, Ben Fastenberg, Tim Dempsey, Cara ChayetAurora Capital; Allied PartnersJLL's Steven Bauer, Howard Hersch, Brett Harvey; Allied Partners' Bonnie Shapiro
755 Hudson Yards75,064 sfHudson YardsThird PointJLL's Daniel Turkewitz, Alexander ChudnoffRelated Companies; Oxford Properties Group; Mitsui FudosanCBRE's Emily Jones, Bob Alexander, Howard Fiddle; Related Companies' Andrew Cantor, Jordan Bargas, Stephen Winter10-years
8375 Pearl Street72,180 sfTwo BridgesNew York City Department of SanitationCushman & Wakefield's George Keller, Robert GiglioSabey Data Center PropertiesCBRE's Gerry Miovski, Gregg Rothkin20-years
92 Rector Street58,487 sfFinancial DistrictConvene2 Rector Street (NY) LLC
10435 Hudson Street56,894 sfWest VillageRadicalMediaTrinity Real Estate
Source: The Real Deal reasearch of news reports and submitted deals published or received last month.