Crains New York - July 23, 2012 - (Page 18)

REPORT REAL ESTATE DEALS BARE BONES 33 WHITEHALL ST. ASKING RENT; TERM: Undisclosed; undisclosed SQUARE FEET: 180,500 TENANT; REPS: Fitch Ratings; John Cefaly and Gus Field of Cushman & Wakefield Inc. LANDLORD; REPS: KippStawski Management Group; Jonathan Capeman and Edward Goldman of CBRE BACK STORY: Fitch is renewing its lease at 33 Whitehall St., and adding 41,000 square feet. It will leave behind 100,000 square feet at 1 State Street Plaza, according to the New York Post. 1330 SIXTH AVE. ASKING RENT; TERM: Undisclosed; undisclosed SQUARE FEET: 50,000 on second to fourth floors TENANT; REPS: Knoll Inc.; Scott Cahaly and Martin Horner of Jones Lang LaSalle LANDLORD; REP: RXR Realty; William Edler of RXR Realty BACK STORY: 1330 Sixth Ave., which RXR purchased in December 2010 for $400 million, is nearly 90% occupied following this deal. 230 PARK AVE. ASKING RENT; TERM: Mid-$70s per SF; 15 years SQUARE FEET: 45,000 on 29th and 30th floors TENANT; REPS: Otterbourg Steindler Houston & Rosen P.C.; Matthew McBride and Lewis Miller of CBRE Group Inc. LANDLORD; REP: Monday Properties; Jordan Berger (in-house) BACK STORY: Otterbourg has been a tenant in the building since 1969, according to the Commercial Observer. M Law firm’s ship comes in, at last cGivney and Kluger is expanding its longtime office downtown, at 80 Broad St. The Florham Park, N.J.-based law firm, which specializes in defense work in insurance cases, has renewed its lease for 15,000 square feet in the 36-story building at South William Street and inked a lease for an additional 7,000 square feet there. The asking rent was $36 per square foot, according to Todd Korren, who was the in-house representative for landlord Savanna. John Moran and Fred Trump of Newmark Grubb Knight Frank brokered the deal for the litigation firm. This is the fourth expansion at 80 Broad St.for McGivney and Kluger. It started out in the 82-year-old building in 2003, leasing a 3,000square-foot space. With the new lease, the firm, which boasts 11 other offices from Florida to California, will have two contiguous full floors—a setup the firm had been trying to put together for months, either at 80 Broad St. or elsewhere. To make it possible, Savanna relocated several other tenants, Mr. Korren said. The tenant will move into its new space by early next year. —cara eisenpress CRAIN’S INSIDER THE INSIDE SCOOP ON NEW YORK POLITICS Crain’s Insider provides vital coverage of government and political issues of importance to business executives, opinion leaders, politicos, and others interested in the inner workings of New York City and State Government. Meatpacking pioneer decamps Fashion designer Yigal Azrouël is bidding goodbye to the meatpacking district and moving uptown to Madison Avenue. Mr.Azrouël,who founded his label in 1998, recently signed a sevenyear lease for 900 square feet at 1011 Madison Ave., on the corner of East 78th Street. The asking rent for the deal, which includes a 900-squarefoot storage basement, was $640 a square foot. “Recently the tenancy has gone up so tremendously [on Madison],” said Kelly Gedinsky, the Winick Realty Group broker who, along with colleague Lori Shabtai, represented Mr. Azrouël. She noted that edgier retailers such as Rag & Bone and Vince have recently moved into the neighborhood just beyond the north end of the gilded strip that runs from East 57th Street up to East 72nd Street. Meanwhile, as Madison trends edgier, meatpacking is slipping more into the mainstream. Malltype tenants, such as Ugg, Sephora and Levi’s, have recently moved into the meatpacking district.Trendy pioneers like Mr. Azrouël, who opened his store on West 14th Street in 2003, have begun to decamp from the scene. Earlier this year, Stella McCartney left for SoHo. Mr. Azrouël’s new store should open for business this fall. It replaces design house Luca Luca, which closed in May. In February, Mr. Azrouël opened a store for his lower-priced label Cut 25 on Grand Street. For the Madison deal, landlord S&S Madison Associates was represented by Shaun Moamem from Plaza Real Estate Group Inc. —adrianne pasquarelli Stay informed on big issues, hearings, legislative es hearings initiatives, proposed regulations, and key personnel changes. Sign up today! www.crainsnewyork.com/insider 18 | Crain’s New York Business | July 23, 2012 http://www.crainsnewyork.com/insider http://www.crainsnewyork.com/insider

Table of Contents for the Digital Edition of Crains New York - July 23, 2012

Crains New York - July 23, 2012
Contents
In the Boroughs
In the Markets
The Insider
Business People
Small Business
Opinion
From Around the City
Report: Real Estate
Real Estate Deals
For the Record
Classifieds
New York, New York
Source Lunch
Out and About

Crains New York - July 23, 2012