Crains New York - December 10, 2012 - (Page 12)

REAL ESTATE DEALS BARE BONES 488 MADISON AVE. ASKING RENT; TERM: $63 per square foot; 10 years SQUARE FEET: 10,300 TENANT; REP: Grassi & Co.; David Turino of the Feil Organization LANDLORD; REP: The Feil Organization; Mr. Turino BACK STORY: The accounting firm is expanding its presence in the building and will now occupy space on the 21st and 23rd floors, according to The Commercial Observer. 145 W. 28TH ST. ASKING RENT; TERM: $35 per square foot; 10 years SQUARE FEET: 5,300 TENANT; REP: Bravo Media; Michael Hymowitz of Adams & Co. LANDLORD; REP: 145 West 28th Street Associates; Elliot Klein of Winoker Realty BACK STORY: The production company— which has worked with clients including Beyoncé, Rihanna and HBO—is expanding and will take space on the second floor, according to The Commercial Observer. 48 W. 37TH ST. ASKING RENT; TERM: $38 per square foot; 10 years SQUARE FEET: 6,800 TENANT; REP: Murphy Burnham & Buttrick; David Levy of Adams & Co. LANDLORD; REP: Forty Eight Thirty Seven Associates; David Levy of Adams & Co. BACK STORY: The architecture, planning and interior-design firm renewed its lease, which spans the entire 14th floor, according to The Real Deal. I Jefferies eyes huge midtown renewal nvestment firm Jefferies Group looks as though it will become the latest in a string of big tenants to take the more conservative route of renewing its lease rather than shifting to new space. Once rumored as a possible tenant for Related Cos.’ huge Hudson Yards project, Jefferies will instead extend its tenancy at 520 Madison Ave., less than a month after the firm was acquired by Leucadia Group for about $2.5 billion. According to sources, Jefferies will renew as much as 600,000 square feet for a period of 10 or more years. The deal is expected to be signed and executed by January. Jefferies and landlord Tishman Speyer are rumored to be talking about striking a deal for as much as the $90s per square foot. In October, Switzerland-based UBS also struck a deal to renew its lease at 1285 Sixth Ave., a roughly 700,000-square-foot transaction done at rents in the $80s-persquare-foot range. A spokesman at Jefferies declined to comment.The firm is represented by Cushman & Wakefield, which also declined to comment. Tishman Speyer did not respond to a request for comment. —daniel geiger 3-D printer outfit inks two NY leases A growing player in the hot market for 3-D printers has inked leases for properties in two boroughs. Shapeways is taking 25,000 square feet in a three-story warehouse at 30-02 48th Ave. in Long Island City, Queens. That space will be used to turn out copies for customers. Meanwhile, for front-office and sales staff, the company has leased 6,000 square feet at 419 Park Ave. South. Steven Blair Strati, a broker at Cushman & Wakefield who represented Shapeways in both leases,said the Netherlands-based outfit wanted to split its New York operations to reap the cost savings of the Long Island City market, which is eligible for city tax incentives on top of already-discounted rents in the area. “Long Island City is where they feel they need to have their production center,” Mr. Strati said. The leases in New York come after the company recently raised $10 million from Lux Capital and Union Square Ventures, according to written reports. Having a Manhattan office was important, Mr. Strati said, allowing the company to be close to its financial backers. Shapeways is a service provider that has its own high-tech machines it contracts out to clients and consumers on a job-by-job basis. The company can produce nearly any object made of metal or plastic to its customers’ specifications, including iPhone cases, mug sets and jewelry. The landlord, Mark Karasick, was represented in-house by Peter Thorsen. —daniel geiger 12 | Crain’s New York Business | December 10, 2012 http://www.crystalco.com http://www.crystalco.com

Table of Contents for the Digital Edition of Crains New York - December 10, 2012

THE INSIDER
IN THE BOROUGHS
IN THE MARKETS
SMALL BUSINESS
BUSINESS PEOPLE
OPINION
GREG DAVID
REAL ESTATE DEALS
REPORT: PHILANTHROPY
THE LIST
CLASSIFIEDS
FOR THE RECORD
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crains New York - December 10, 2012