The Real Deal New York

Paul Massey leases Bryant Park space for new brokerage

B6 Real Estate Advisors takes 12K sf in sublease at 1040 Sixth
July 23, 2018 09:30AM

1040 Sixth Avenue and Paul Massey (Credit: Google Maps and LinkedIn)

Paul Massey leased office space in Midtown for his new brokerage, B6 Real Estate Advisors.

Massey signed a sublease with employment-information company DHI Group for just over 12,000 square feet at 1040 Sixth Avenue, the New York Post reported.

“We love the Bryant Park area and think it will be one of the places everyone wants to be,” Massey said. “We are sitting on the biggest transportation hub, which is important because our people will be all over the city and our offices will be all over the city.”

Massey, who sold his eponymous brokerage Massey Knakal Realty Services with partner Bob Knakal to Cushman & Wakefield in 2014 for $100 million, struck out on his own earlier this year to start the new firm, which is shorthand for Building by Building, Block by Block. The industry veteran is recruiting new brokers, and plans to have offices in New York and New Jersey.

Savills Studley’s Bill Montana represented B6 in the sublease. Similar spaces rent in the area of the low $50s per square foot, according to the Post.

“It’s fantastic space with great views and outfitted perfectly and everything is up and running and ready to go,” Montana said.

Newmark Knight Frank’s Billy Cohen represented DHI Group in the sublease, and building owner Skyline Development gave the deal the green light. [NYP] – Rich Bockmann