A Fresh Take on CRE

NY Weekly Comp Digest: Floor Subleased at 1185 Avenue of the Americas, Architecture Firm Moves from Midtown South to Downtown

Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.

   
1185 Avenue of the Americas

Floor Subleased at 1185 Avenue of the Americas

Solil Management signed a lease for the entire 10th floor at 1185 Avenue of the Americas. The firm is subleasing the 27,508 SF of space from Hess, which is currently paying rent in the low-$90s PSF for its 180,822 SF space. Solil will pay rent starting in the low-$40s PSF and will get almost a year of free rent.



   
1725 Duke Street in Alexandria


Digital Agency Subleases Chelsea Space

Tenthwave Digital signed a sublease for the top floor of 31 West 27th Street. The 11,397 SF space will cost Tenthwave rent in the mid-$40s PSF, which is similar to what the sublessor, AECOM, is currently paying for the space. Last year, AECOM signed a lease downtown at 125 Broad Street with the intention to consolidate offices. The starting rent for AECOM's 91,414 SF space in FiDi is in the mid-$30s PSF.



   
One New York Plaza

Architecture Firm Moves from Midtown South to Downtown

One New York Plaza landed architectural firm Davis Brody Bond in a lease for 26,354 SF on the 42nd floor. The starting rent is in the line with the National Future Association's lease on the 43rd floor from earlier this year, which is in the low-$40s PSF. The 16-year lease will be accompanied by about a year of free rent. One New York Plaza had the 2nd largest deal of last year, when Morgan Stanley signed a lease for 1.15MM SF.