A Fresh Take on CRE

Weekly Comp Digest: BuzzFeed at 200 Fifth, Travelers at 485 Lex, SHoP at 233 Broadway

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BuzzFeed Subleases from Tiffany

BuzzFeed will sublease the entire 8th floor at 200 Fifth Avenue, a space that Tiffany & Co. leased only a few months ago with rent in the mid $80s PSF. BuzzFeed's sublease is priced at less than $60 PSF for the two year term.
Get the BuzzFeed comp Get the Tiffany comp

Travelers Indemnity Renews at 485 Lex

Travelers Indemnity Company signed a lease for 178,024 SQFT at 485 Lexington Avenue. The insurer will pay south of $60 for the five year term. (Rent for Travelers' existing lease is in the low $50s PSF.) Another tenant at 485 Lexington, Citigroup, has recently subleased over 150,000 SQFT to Value Line, Xerox and New Oak as we reported here.

Architects Sign at the Woolworth Building

SHoP Architects is moving from 11 Park Place to a 30,000 SQFT office at 233 Broadway, better known as the Woolworth Building. The firm, which is known for designing the Barclays Center, will pay rent in the low $40s PSF for the 15 year lease. Recent tenants at 11 Park Place such as New York Foundation for Senior Citizens are paying rent in the low $30s PSF.