A Fresh Take on CRE

Weekly Comp Digest: 650 Fifth Ave, 757 Third Ave, 120 Broadway




Investment Advisory Firm Relocates and Expands

Metropolitan Real Estate Equity is trading a 16th floor, 9,500 SQFT office at 135 East 57th Street for an 11,289 SQFT office on the 29th floor at 650 Fifth Avenue. The current rent at East 57th is around $90 PSF and the new rent at 650 Fifth will be in the $70s PSF.







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Staffing Agency Relocates and Expands at 757 Third Ave

Aerotek, who now has a 19,898 SQFT office on the second floor at 757 Third Avenue, is moving to a 28,676 SQFT office on the 8th and 12th floors of the building. Aerotek will receive 11 months in free rent and pay a starting rent similar to the current second floor rent, in the mid $50s PSF. Aerotek's new deal terms are similar to those if its eight floor neighbor Mizuho Financial Group.







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YMCA Retirement Fund Moves One Block South

YMCA Retirement Fund is moving from 140 Broadway to 120 Broadway. Whereas recent leases at 140 Broadway, such as Platinum Underwriters' are in the high $40s PSF, YMCA's rent at 120 Broadway will be significantly lower -  in the high $30s. YMCA's neighbor at 120 Broadway Beyer Blinder Belle recently signed a lease with starting rent in the mid $30's PSF.







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