Crains New York - May 21, 2012 - (Page 31)

R E A L E S TAT E D E A L S Video outfit gets enough space to party MIXED BAG Changes in asking rents in 1Q vs. 4Q ‘11 Avg. asking rent* % change T Animoto looked at 50 places before finding perfect spot in lower Manhattan ypically, companies that aren’t running nightclubs don’t lament a lack of space for drinking and dancing. Be that as it may, one reason why Animoto Inc. opted to nearly double its space by leasing 15,200 square feet at 440 Lafayette St. was so employees would have enough room to let loose at its traditional Friday afternoon happy hours. “We hang out, and we get a little silly,” said Nathan Meagher, vice president of people services—which in other companies would be called human resources. Animoto provides a Web-based system to create videos. It also needed the space to keep growing. Since 2010, Animoto has more than doubled its staff to 55 and will probably have up to 70 by the end of the year. Among other things, the tenant is constructing a 45-seat café for employees, as well ment New York Times Square West, helped lure Kee’s, since the chocolatier also sells to the hospitality industry for its turndown services. “It was serendipity,” said Scott Galin, the in-house representative for landlord Handler Real Estate Organization. Rosanne Lucarelli, also of Handler, represented Kee’s in negotiations. —adrianne pasquarelli Investment bank hikes up B’way Signal Hill Capital Group is moving into 5,300 square feet at 140 Broadway. The investment bank plans to move later this month. The bank considered numerous options, according to Stephen Bellwood, a broker at Cassidy Turley who with colleague Andy Bay represented the firm. Mr. Bellwood said the bank chose the slender, 51-story, glass-clad building at 140 Broadway because it’s a trophy property in lower Manhattan, which is more convenient for many of the firm’s executives. Sources said the asking rent in the late-1960s building was in the high $40s a square foot. Cushman & Wakefield Inc. brokers Robert Constable and Willard Overlook represented building owner Union Investment Real Estate. —theresa agovino BIGGEST WINNERS Fifth Ave. (42nd to 49th) $954 $1,212 +47% +20% Madison Ave. (57th to 72nd) BIGGEST LOSERS Third Ave. (60th to 72nd) $218 $273 * Per square foot. -14% -8% Source: CBRE Inc. Broadway (72nd to 86th) as a shower for those who bike to work. “We must have looked at 50 places,” Mr. Meagher said. “This is exactly what we wanted.” The asking rent for the five-year deal was $39 a square foot. CBRE Group Inc. brokers Ben Fastenberg and Ross Zimbalist represented Animoto, while Newmark Grubb Knight Frank brokers Eric Gural and Donna Vogel represented the building’s owner, Newmark Holdings. —theresa agovino You expect an expert in Cash Management, Risk Management and, of course, Relationship Management. That’s Key. We have experts in every aspect of financial services. Starting with the relationship. We are KeyBank. Our Relationship Managers help you access a team of senior level specialists to assist you with any financial need. We are also KeyBanc Capital Markets Inc., a full service corporate and investment bank. So when your financial needs become more sophisticated, like maximizing liquidity or managing risk, we have the expertise to help you succeed. We’re not just the expert you deserve. We’re what you expect. Chocolatier Kee’s in on West 39th Kee’s Chocolate has found a new sweet spot. The chocolatier recently signed a 10-year deal for 500 square feet at 315 W. 39th St. The asking rent was $151 a square foot. Opening in the fall, the eatery will be the third location for Kee’s. Nearby hotels, including EleMay 21, 2012 | Crain’s New York Business | 31 http://key.com/whatyouexpect http://key.com/whatyouexpect

Table of Contents for the Digital Edition of Crains New York - May 21, 2012

Crain's New York - May 21, 2012
Contents
Council Defies Mayor, Scares Business Leaders
Renegade Ceo Bucks Albany to Save His Hospital
Back to JPMorgan Chase’s Woes Have Some Local Bank Rivals Circling. in the Markets.
New York, New York
Hopes Rising Along B’klyn Waterfront in Sunset Park
Why Charlie Rangel Could Lose His Seat
Small Business
Viewpoint
Ibm Inside Big Blue’s Brain Trust, Which Pulled in More Than 6,180 Patents Last Year, the Most Ever by a Single Company. No Wonder the Stock Price Has More Than Doubled in the Past Five Years.
The List Our Annual Review of the New York Area’s Largest Publicly Held Companies, Ranked by Their 2011 Revenues.
What’s Up (And Down) at News Corp., Cbs, Bed Bath & Beyond, Vornado Realty, Mastercard, Jones Group, Revlon and Others.
For the Record
Classifieds
Real Estate Deals
The Week on the Web
Matchmakers Find Their Own Chemistry
Anne Fisher Tapping Into Human Emotions Pays Dividends
Hot Jobs
Executive Moves
Movers & Shakers Real Estate Veteran’s Surprising Switch
Gael Greene Dragonfly Lands on UES

Crains New York - May 21, 2012