Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
French Fashion Subleases from Danish Audio
A French fashion designer has signed a sublease with Danish audio product designer for 1,400 of square feet at 952 Madison Avenue. The sublease term will be two and a half years, and the space will include 1,200 square feet of basement space. Asking rent for the space was $800 per square foot, and the taking rent will be about 25% less.
More Leases at 250 West 55th
Earlier this week, it was announced that a New York-based investment management group has leased 23,274 square feet on the 14th floor of 250 West 55th for ten years. This lease comes amongst healthy leasing activity in the building, which also included a large investment bank (with 13,203 square feet on the 15th floor), a life sciences firm, and a healthcare-focused investment company (with 3,167
square feet respectively, on the 16th floor). All four leases had starting rent in the mid and high-$70s.
Journal Takes 10K Downtown
A trade publication for librarians has signed a lease for 11,521 square feet of space on the 10th floor of 123 William Street. The firm will be paying starting rent in the mid-$30s and lease the space for ten years. Recently the a career development company signed a lease five floors below for starting rent in the low-$30s in a 10-year lease as well.