A Fresh Take on CRE

NYC Weekly Comp Digest: Expansion and Contraction on Park Avenue, Another Floor Taken at 101 Sixth Avenue

Every Wednesday, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
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Expansion and Contraction on Park Avenue
Bookspan (sister company of Direct Brands) signed a sublease on the 10th floor of Two Park Avenue. Bookspan will relocate from its Garden City offices to the 27,000 SF space and will pay starting rent in the high-$30s PSF. The sublessor, magazine publisher Bonnier, is currently paying rent in the high-$40s PSF for the 9th and 10th floor. Recently, Kate Spade expanded in the same building. (as The Real Deal reported with CompStak data)
388 Market
Aquila Relocates from Expiring Building
Aquila Management will relocate from 380 Madison Avenue, where it is paying rent in the high-$50s PSF, to 120 West 45th Street (aka Tower 45), where they will pay rent in the high-$60s PSF. The leasehold on 380 Madison, held by Solow Building Company, is expiring in 2014 and the building will likely be redeveloped. The lease at Tower 45 is in line with other leases at the top floors of the building, such as that of Stout Risius Ross. For a video tour of the space, visit VTS.
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Another Floor Taken at 101 Sixth Avenue
 
Shortly after the 13th floor of 101 Sixth Avenue was taken by Huntsworth Health, the 12th floor was taken as well, by Blue State Digital. The digital strategy agency will pay rent in the mid-$60s PSF, for a five-year lease, which is the shortest lease of all of the recent signings in the buildings. To see other listings in the building, visit 42floors.