Crains New York - October 8, 2012 - (Page 15)

REAL ESTATE DEALS Nonprofit hits exit in midtown south BARE BONES 450-460 PARK AVE. SOUTH ASKING RENT; TERM: $49 per square foot; 10 years SQUARE FEET: 14,000; top floor TENANT; REP: OfficeLinks; Jonathan Tootell of Newmark Grubb Knight Frank LANDLORD; REP: Joseph Moinian; inhouse by Jovani Rampersad BACK STORY: Office-suite outfit inks lease for fifth NYC outpost, its second in a Moinian-owned building. 225 VARICK ST. ASKING RENT; TERM: $42 per square foot; 13 years SQUARE FEET: 12,000 TENANT; REPS: Thakoon Panichgul; Brian Neugeboren and Marc Schoen of Savitt Partners LANDLORD; REP: Trinity Real Estate; inhouse by Peter Fontanetta BACK STORY: Thai-American fashion designer joins several other designers in Trinity Real Estate’s Hudson Square-area buildings. 655 THIRD AVE. ASKING RENT; TERM: $58 per square foot; five years SQUARE FEET: 5,700 on 27th floor TENANT; REPS: MetroGoldwyn-Mayer; Brian Given and Steven Jaray of Colliers International LANDLORD; REP: Durst Organization; Karen Kuznick, in-house BACK STORY: The media company has re-signed at the 55-year-old, 358,000square-foot building where it has been since 2006, according to The Commercial Observer. T he Leukemia & Lymphoma Society is trading in its home in now red-hot midtown south and moving down to a 20,000square-foot office at 61 Broadway in the financial district. The organization, currently based at 475 Park Ave. South, will take over the entire fourth floor when it moves downtown by the end of the year. The building’s owner, Broad Street Development, will provide its own architect to customize the office space in the 780,000square-foot, 33-story building between Exchange Plaza and Rector Street. Broad Street Development was represented by in-house brokers David Israni and Ramona Huegel. The Leukemia & Lymphoma Society was represented by Andrew Stein of Vicus Partners and Lynn Drake of Compass Commercial. Mr. Israni said that the society will pay in the “low $30s,” which is consistent with the building’s other nonprofit tenants. That compares with rents in midtown south that now average $49 per square foot, according to data from Cushman & Wakefield Inc. “By moving downtown, LLS will have great space in a great building while saving significantly on their rent,” Mr. Stein said. “This will allow them to put more money into their mission, which ultimately is what it’s all about.” —ali elkin ® Priced out of the Manhattan market for new construction? At Trump Parc Stamford you DON’T have to pay $2,000 per square foot to live in the lap of luxury. We offer Manhattan quality and world-class amenities starting at only $400 per square foot. These spacious apartments offer spectacular panoramic views of the New York City skyline and Long Island Sound. Conveniently located in the heart of downtown Stamford, Trump Parc is only 40 minutes to Grand Central Station on Metro North. Experience the best for less at Trump Parc Stamford. Average size Veteran SoHo retailer priced out Rising SoHo rents are pushing a longtime retailer to the Upper East Side. Greene Street Antiques, which has been downtown for more than two decades, recently signed a 10-year lease for just over 1,000 square feet at 210 E. 60th St., between Second and Third avenues. The asking rent for the deal, which also includes a 200-squarefoot basement, was $110 per square foot. “In recent years, SoHo has changed from furniture stores to high-end clothing boutiques,” explained Howard Aaron, the Square Foot Realty broker who represented the tenant. He said that high rents in the neighborhood prompted Greene Street Antiques to move uptown, where the retailer chose a site near shopping destination Bloomingdale’s. The antiques shop is also downsizing from its Greene Street store, which was nearly 4,000 square feet, driven by the trend of more customers doing their shopping online. The new store should open for business next month. Broker Ricky Zegelstein represented landlord 210 E. 60th St. —adrianne pasquarelli Prices starting at $495,000 1BR 2BR 3BR 1,109SF 1,613SF 1,844SF Manhattan Luxury AT A N U N B E ATA B L E P R I C E 203.878.6766 TrumpParcStamford.com [i] select units not currently under contract and as determined in the sole discretion of the Declarant; and, [ii] qualified buyers, subject to credit and underwriting requirements of participating select lenders. The sales incentive program described may be modified or terminated at any time by the Declarant. Prices and unit availability are subject to change without notice. Sales incentive program conditions and requirements are available at the Trump Parc Stamford Sales Center and subject to the provisions of the Public Declarant notice Offering Statement. This advertisement is not an offering. No offering can be made without a Public Offering Statement. The Declarant, 33 Broad Street Associates, LLC will provide a Public Offering Statement prior to any sale or any offering for sale. The Declarant, 33 Broad Street Associates, LLC is registered as a New Home Construction Contractor under Connecticut Registration Number 11411. As to New York Residents, the complete offering terms are in an Offering Plan available from Sponsor; File No. CD10-0047. Any offering, when made is not intended for residents of any other jurisdiction where governmental approval or registration is required. © 2010 Trump Parc is a registered trademark of Donald J. Trump. Trump Parc® Stamford is not owned, developed or sold by Donald J. Trump, The Trump Organization or any of their affiliates. 33 Broad Street Associates II, LLC, the owner and developer of the property, uses the “Trump” name and mark under license from Trump Marks Stamford LLC, which license may be terminated or revoked according to its terms. In addition, the Trump Corporation was retained to manage the operations of Trump Parc® Stamford pursuant to the terms of a management agreement, which agreement may be terminated according to its terms. A LEED Qualified Green Building. Another RICH residential experience *Declarant, 33 Broad Street Associates II, LLC intends to limit the foregoing sales incentive program described to: Building g p October 8, 2012 | Crain’s New York Business | 15 http://www.TrumpParcStamford.com http://www.TrumpParcStamford.com

Table of Contents for the Digital Edition of Crains New York - October 8, 2012

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
CORPORATE LADDER
FROM AROUND THE CITY
OPINION
GREG DAVID
THE LIST
REAL ESTATE DEALS
CLASSIFIEDS
SMALL BUSINESS
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crains New York - October 8, 2012