Crains New York - April 1, 2013 - (Page 12)

REAL ESTATE DEALS BARE BONES 257 W. 17TH ST. 111 FIFTH AVE. 100 W. 125TH ST. ASKING RENT; TERM: $75 per square foot; 10 years ASKING RENT; TERM: Low $60s per square foot; 15 years ASKING RENT; TERM: $160 per square foot; 15 years SQUARE FEET: 13,100 SQUARE FEET: 62,000 SQUARE FEET: 8,500 TENANT; REP: Brick; Steve Rappaport of Sinvin Real Estate LANDLORD; REPS: 257 Associates; Ariel Schuster and Andrew Connolly of Robert K. Futterman & Associates BACK STORY: The West Hollywood, Calif.based cross-fit gym will open its first New York location, called Brick N.Y.C., in Chelsea this June. TENANT; REPS: Eileen Fisher; David Falk and Daniel Levine of Newmark Grubb Knight Frank LANDLORD; REP: The Winter Organization; in-house representation by Rob Fink BACK STORY: The retailer renewed and expanded its lease, adding a 19,000square-foot sixth floor, according to The Commercial Observer. EXERCISE TENANT; REP: American Eagle; undisclosed LANDLORD; REP: Wharton Properties; inhouse representation by Jeff Sutton BACK STORY: The teen retailer will open its first location in Harlem in a soon-to-bebuilt development that will also house Whole Foods and Burlington Coat Factory, according to the New York Post. 660 Madison Ave.’s transparency issue T revi Capital has signed a lease for 8,000 square feet at 660 Madison Ave., between East 61st and 62nd streets, in the heart of the Plaza district.The private-equity firm that invests in the health care sector will take more than half of the 15th floor of the 23-story property, which boasts Barneys’ flagship department store in its base. Trevi, which was represented by Gordon Ogden of Byrnam Wood, will take its new space for seven years for rents in the low $90s per square foot. Trevi will join another boutique investment company,LionTree,which took 10,400 square feet on the 10th floor last year, for rents also in the $90s. Those deals come on the heels of the property’s acquisition by the Safra family in 2011. Since taking over, the owner has sought to give the property an extra edge,with floor-to-ceiling windows that enhance its views and allow it to compete with newer buildings in the neighborhood. “As spaces have come available, we have increased the window sizes,” said Paul Amrich, a broker at CBRE Group Inc. who represents the landlord in leasing deals. —daniel geiger ENERGY EFFICIENCY AND SAVE BIG The Green Team can get your 5- to 75-unit building energy ﬁt. GET ©2013 Consolidated Edison Company of New York, Inc. Ad: Arnell Group UPTO $20,000 when you install an energy management system FREE IN-UNIT ENERGY SAVING MEASURES INSTALLED WORTH OVER $100 per unit to help you and your residents save GET $115 for each thermostatic radiator valve you install ENER G Y EF FI CI E NCY E XP ERT S 1-877-870-6118 conEd.com/GreenTeam SAVE BIG ON LIGHTING, HEATING AND COOLING UPGRADES. CALL TODAY FOR YOUR FREE ENERGY SURVEY. 12 | Crain’s New York Business | April 1, 2013 Victorious law firm spreads its wings Winning the largest gender-based employment discrimination case in history—a $253 million settlement against Novartis in 2010—did wonders for business at law firm Sanford Heisler. With more cases, however, came the need for more space. Luckily, the firm didn’t have to go far to find it. It is simply moving into the next-door office at 1350 Sixth Ave. After six years in a 5,300square-foot office on the 31st floor and with two years left on its lease, Sanford Heisler is trading it for the adjacent 8,000-square-foot space in the tower owned by SL Green Realty Corp. The lease will run through 2023. The asking rent was $87 per square foot. The new office features exposures on three sides, as opposed to just north-facing views. “The light capture on the upper floors is just spectacular,” said David Sanford, one of the partners at the firm. When Sanford Heisler launched its search last year, it began by looking elsewhere in the SL Green portfolio, according to the firm’s broker, Robert Emden of Newmark Grubb Knight Frank, who worked on the deal with Gary Linden. The landlord was represented in-house by Gary Rosen and Howard Tenenbaum. “The location is just spectacular,” Mr. Sanford said. “The subway is nearby, and you’ve got lots of restaurants. And there are a lot of law firms in area, which makes it convenient when you have to go after somebody.” —matt chaban http://www.conEd.com/GreenTeam http://www.conEd.com/GreenTeam

Table of Contents for the Digital Edition of Crains New York - April 1, 2013

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
OPINION
BOB PREVIDI
GREG DAVID
REAL ESTATE DEALS
HEALTH CARE REPORT
CLASSIFIEDS
SMALL BUSINESS
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crains New York - April 1, 2013