These were the top NYC office leases
in November

TRD New York /
Dec.December 17, 2018 05:00 PM

Clockwise from top left: 601 West 26th Street, 120 Park Avenue, 441 Ninth Avenue, and 249 West 17th Street

New York City’s office leasing market saw a diverse set of tenants in November, with no industry sector dominating the month’s top 10 office leases list. Everything from cycling start-ups to fashion to social media made the cut last month.

Overall, November’s top office leases outpaced October’s top office leases. The 10 biggest deals signed last month totaled 1.8 million square feet, up 400,000 square feet from October’s total of 1.4 million square feet. The largest office lease in November was inked in Grand Central.

1) Bloomberg LP, 120 Park Avenue, Grand Central – 468,000 square feet

The media and financial-information company renewed its 11-year lease for 468,000 square feet of space at 120 Park Avenue. Howard Fiddle and Craig Reicher of CBRE represented the tenant while Paul Glickman and Diana Biasotti of JLL represented the landlord, Global Holdings Group. Bloomberg has been a tenant at 120 Park since 2011, though its headquarters is a few blocks away at Vornado Realty Trust’s 731 Lexington Avenue. Oracle, the technology firm, and Phillip Morris, the cigarette and tobacco manufacturing company, also occupy space at the Global Holdings Group building.

2) Ralph Lauren, 601 West 26th Street, Chelsea – 350,000 square feet

In an effort to consolidate offices, the fashion company expanded its lease for 350,000 square feet of space at 601 West 26th Street, better known as the Starrett-Lehigh Building. Gabe Marans, Mitchell Steir, Matthew Barlow and David Goldstein of Savills Studley represented the tenant. The building’s landlord is RXR Realty, who refinanced the property with a $900 million loan from New York Community Bank back in September.

3) Peloton, 441 Ninth Avenue, Hudson Yards – 300,000 square feet

The indoor-cycling startup signed a lease for 300,000 square feet of space at 441 Ninth Avenue. Ben Shapiro of Newmark Knight Frank represented the tenant, while a CBRE team of Steve Siegel, Evan Haskell, Paul Haskin, James Ackerson and Benjamin Joseph represented the landlord, Cove Property Group. Peloton’s location at 441 Ninth Avenue, also known as Hudson Commons, will serve as its new headquarters. Securing an anchor tenant is a big win for Cove Property, which is redeveloping the property into 700,000 square feet of offices.

4) Twitter, 249 West 17th Street, Chelsea – 215,000 square feet

The social media company expanded its lease for an additional five years for 215,000 square feet of space at 249 West 17th Street. Christina Clark and Peter Sabesan of Cresa Partners represented the tenant while Neil King and Paul Amrich of CBRE represented the landlord, Columbia Property Trust. Twitter currently sublets sections of the building to Lyft, Netflix and Major League Baseball.

5) Trade Desk, 1114 Sixth Avenue, Grand Central – 95,580 square feet

The digital marketing firm inked a lease for 95,580 square feet of space at the Grace Building at 1114 Sixth Avenue. Carlo Brignardello, Richard Selig and Peter Sabesan of Cresa Partners represented the tenant. Ken Rapp, Peter Turchin, Sarah Pontius, Zak Snider and Cara Chayet of CBRE represented the landlords, Brookfield Property Partners and Swig Company, along with an in-house Brookfield team of Duncan McCuaig and Alex Liscio. Trade Desk will occupy the top three floors of the 49-story tower. Trade Desk shares space at 1114 Sixth Avenue with Capari America, the maker of household liquors like Wild Turkey and SKYY Vodka, who inked a lease last February for 65,000 square feet in the building.

6) Syneos Health, 200 Vesey Street, Financial District – 86,500 square feet

The pharmaceutical company inked a 10-year lease for 86,500 square feet of space at 200 Vesey Street. Erika Jean McNeil, Jonathan Fanuzzi, Kip Orban, Paul Glickman and Matt Astrachan of JLL represented the tenant while Lisa Kiell, Michael Shenot, Ed DiTolla and Andrew Coe of JLL represented the landlord, American Express. Syneos Health will take the 39th and 40th floors of the 2.5 million square foot office tower. In 2016, Brookfield refinanced the building with a $290 million loan from Wells Fargo.

7) Broadridge Financial Solutions, 605 Third Avenue, Murray Hill – 85,000 square feet

The fintech firm signed a 15-year lease for 85,000 square feet of space at 605 Third Avenue. Paul Amoruso and Michael Ciotta of Oxford and Simpson represented the tenant while Marc Packman and Clark Briffel of Fisher Brothers represented the landlord in house, alongside a Cushman & Wakefield team of Bruce Mosler, Louis D’Avanzo, Andrew Ross, Michael Baraldi and Maria Travlos. Other tenants at the 44-story tower include Informa, Univision and AECOM, David Hutcher & Citron and the United Nations Population Fund.

8) Moses & Singer, 405 Lexington Avenue, Midtown – 73,485 square feet

The law firm renewed its 15-year lease for 73,485 square feet of space at the 68-story tower at 405 Lexington Avenue. Michael Cohen, Robert Tunis, Eric Feriello and Jessica Verdi of Colliers International represented the tenant. The building’s landlord is Tishman Speyer.

9) EHE International, 600 Fifth Avenue, Plaza District – 66,000 square feet

The health care company signed a lease for 66,000 square feet of space at 600 Fifth Avenue. Brad Wolk, Erik Schmall, Peter Cento and Scott Weiss of Savills Studley represented the tenant while Tishman Speyer represented the landlord in house.

10) WeWork, 57 East 11th Street, Greenwich Village – 61,375 square feet

The co-working firm inked a 15-year lease for 61,375 square feet of space at 57 East 11th Street. Bruce Mosler and Ethan Silverstein of Cushman & Wakefield represented the tenant while Alexander Chudnoff, Jonathan Fanuzzi and Kip Orban of JLL represented the landlord, Winter Properties, alongside an in house team of Jay Stark and Scott Milsom. Asking rents at the 11-story building are $110 for the ground floor and $97 per square foot from the second to 11th floors.


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