A Fresh Take on CRE

NY Weekly Comp Digest 5/9/14

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

 
375 West Broadway
Electronic Payments Company Puts its Foot Down
The San Francisco-based electronic payments company has signed a lease for a permanent New York office space-two years after acquiring the local 80/20. The new office at 375 West Broadway is set to accommodate more than 350 employees according to Square, equating to about 125 square feet per employee. The 43,689 square foot space will cost the company in the high-$60s per square foot.
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650 Madison Avenue
Charitable Contribution of Rent
The umbrella for all of the former Mayor's charitable activities has signed a lease for over 25,000 square feet on the 16th and 17th floors of 650 Madison Avenue. The starting rent, over $140 per square foot, is in line with another recent lease in the building, that of a development company, on the 15th floor.  
   
496 LaGuardia Place
Burger for Pitas
A fast food pita place has signed a lease for the space that was previously occupied by a burger joint/span> at 496 LaGuardia Place. The 1,350 square feet on the ground floor will cost the food chain about $120 per square foot. Around the corner, at 96 West Houston, a cafe renewed its lease of 850 square feet with a similar rent.