The Real Deal New York

The top NYC office leases in September

By Lucas McGill | October 12, 2018 12:30PM

From left: 1271 Sixth Avenue,  530 Fifth Avenue, 405 Lexington Avenue, 35 East 21st Street (Credit: Rockefeller Group, RXR Realty, and Wikipedia)

Half of September’s top 10 office leases were signed by co-working companies, the largest deal of which was struck by Convene for 116,000 square feet at 530 Fifth Avenue. The top deal of the month, meanwhile, was Bessemer Group’s lease for 239,000 square feet in Midtown West. 

However, September’s top 10 deals totaled less square footage than August, with 1.1 million square feet, down from 1.3 million square feet.

1) Bessemer Group, 1271 Sixth Avenue, Midtown West – 239,000 square feet

The financial firm nabbed a 239,000 square feet at 1271 Sixth Avenue. John Cefaly and Peyton Horn of Cushman & Wakefield represented the tenant while Ed Guiltinan of Rockefeller Group represented the landlord in house, along with Mary Ann Tighe, Howard Fiddle, John Maher, Evan Haskell, Sarah Pontius and Dave Caperna of CBRE.

2) Convene, 530 Fifth Avenue, Grand Central – 116,000 square feet

The office-space provider inked a 11-year lease for 116,000 square feet at 530 Fifth Avenue. Rocco Laginestra, Jared Freede, Michael Wellen and Stephen Siegel of CBRE represented the tenant while Dan Birney and Alexandra Budd of RXR Realty represented the landlord in house, along with John Ryan, Brooks Hauf and Michael Leff of Avison Young.

3) Spaces, 405 Lexington Avenue, Grand Central – 110,989 square feet

The shard-office provider owned by IWG signed a 15-year lease for 110,989 square feet of space at the Chrysler Building. Jim Wenk and Kirill Azovtsev of JLL represented the tenant while Gregory Conen and Robert Weller of Tishman Speyer represented the landlord in house. Abu Dhabi Investment Council co-owns the building.

4) WeWork, 35 East 21st Street, Flatiron – 100,000 square feet

The co-working firm is taking all 100,000 square feet of space at 35 East 21st Street. Daniel Levine of Newmark Knight Frank represented the landlord, Centaur Properties.

5) Industrial and Commercial Bank of China (USA), 1185 Sixth Avenue, Times Square – 100,000 square feet

The bank signed a lease for 100,000 square feet of space at 1185 Sixth Avenue. The building’s landlord is SL Green Realty.

6) Spaces, 787 11th Avenue, Hell’s Kitchen – 99,000 square feet

The company signed a lease for 99,000 square feet of space at 787 11th Avenue. Mark Ravesloot, William Iacovelli and Peter Danna of CBRE represented the tenant while Mary Ann Tighe, Evan Haskell, Ross Zimbalist, Arkady Smolyansky and Benjamin Joseph of CBRE represented the landlords, Georgetown Company and Bill Ackman.

7) Signature Bank, 1400 Broadway, Garment District – 91,180 square feet

The bank inked a 16-year lease for 91,180 square feet of space at 1400 Broadway. Michael Cohen, Andrew Roos and Howard Kaplowitz of Colliers International represented the tenant while Keith Cody of Empire State Realty Trust represented the landlord in house, along with Neil Rubin of Newmark Knight Frank.

8) Duff & Phelps, 55 East 52nd Street, Plaza District – 91,019 square feet

The financial adviser inked a 16-year lease for 91,019 square feet of space at 55 East 52nd Street. Mike Catalano, Greg Taubin and Pete Cento of Savills Studley represented the tenant while Marc Packman and Charles Laginestra of Fisher Brothers represented the landlord in house.

9) Spotify, 4 World Trade Center, Financial District – 86,000 square feet

The music streaming service expanded its 15-year lease for 86,000 square feet of space at 4 World Trade Center. The building’s landlord is the Port Authority of New York and New Jersey.

10) Spaces, 175 Pearl Street, Dumbo – 61,539 square feet

The shared office provider signed a lease for 61,539 square feet of space at 175 Pearl Street. Mark Ravesloot, Scott Sloves and Peter Danna of CBRE represented the tenant while Neil King, Patrice Meagher, Paul Amrich, Jeff Fisher and Sacha Zarba of CBRE represented the landlord, Normandy Real Estate Partners.