Kids entertainment company more than doubles space in LIC

Spin Master will lease a total of almost 51K sf in the Factory building

TRD New York /
Jan.January 11, 2019 05:20 PM

The Factory in Long Island City

A children’s entertainment company based in Canada is more than doubling its foothold at the Factory in Long Island City.

Spin Master has signed a nearly 26,000-square-foot six-year lease at the building, the property owners announced on Friday. Cardinal Toys, the games and puzzle division of the company, previously leased 25,000 square feet on the building’s sixth floor.

The deal brings Spin Master’s total footprint in the building to just under 51,000 square feet.

A team of Brian Waterman, Howard Kesseler, Jordan Gosin and Alex Rosenblum from Newmark Knight Frank negotiated the deal.

The Factory is located at 30-30 47th Avenue in Long Island City, and asking rents typically are in the low $40s per square foot. Spin Master will join other tenants at the building including HALO Branded Solutions, Ralph Lauren and Macy’s.

Invesco Real Estate, Atlas Capital Group and Partners Group all co-own the building. Square Mile Capital sold its stake in the property to Atlas and Partners in April in a deal valuing the property at $400 million.

Related Articles

45-10 19th Avenue in Long Island City (Credit: Google Maps)

Broadway Stages plans another LIC film studio

250th Issue

The Real Deal celebrates 250 issues

Charney Construction and Development's Sam Charney and 45-03 23rd Street in Long Island City (Credit: Charney Construction, Google Maps)

Charney Construction & Development branches out

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Neir’s Tavern (Credit: Google Maps)

City’s oldest bar, of “Goodfellas” fame, gets last-minute lifeline

Neir's Tavern (Credit: Google Maps)

Landlord to bar owner: You don’t have to go home but you can’t stay here

Scott Rechler and clockwise from top left: 2455-2457 Third Avenue, 150 West 48th Street and 42-11 9th Street (Credit: Google Maps, Getty Images)

RXR’s Long Island City development was the biggest new project filed in December

Savanna's Chris Schlank and One Court Square (Credit: iStock)

One Court Square recapitalized in $880M deal