Chase Digital Media eyes lease at Manhattan West

Written By Unknown on Rabu, 10 September 2014 | 20.49

The West Side is on a roll with Related Cos. completing its deal with Neiman Marcus and Manhattan West negotiating with Skadden Arps and other tenants.

Now there is even more positive momentum for Brookfield's Manhattan West in Midtown. While the big kahuna, JPMorgan Chase, hasn't inked a lease yet for Manhattan West or anything else, the bank's digital arm is eyeing a move to the tech-oriented building 5 Manhattan West, also known as 450 W. 33rd St.

Lawyers for Chase Digital Media, which handles the bank's Web and mobile business, have a 150,000 square-foot lease in their hands.

The huge squat building is being renovated with larger windows and hovers over the platform being installed to cover the Amtrak rails into Penn Station. This multipart concrete platform will allow the creation of Manhattan West's four new towers.

JPMorgan is known to be seeking a new modern home of its own through Peter Riguardi, tri-state president of JLL. Bruce Mosler heads the Cushman & Wakefield team representing Brookfield.

Availabilities in the 1,742,194 square-foot building include the 11th and 12th floors, a total of 222,037 square feet, and the single massive third floor of 138,905 square feet, according to CoStar, the commercial real estate data tracker.

Riguardi also reps Skadden Arps, which is exploring a big move to a new tower at Manhattan West that could incorporate back-office spaces at No. 450.

None of the parties responded to requests for comment.


Another advertising tenant is decamping from Midtown South to lower Manhattan.

Gyro, an edgy business-to-business agency, has leased 22,312 square feet, or the entire 14th floor at 115 Broadway.

The global ad firm is moving and expanding its headquarters from 31 W. 27th St. after a space search led by Keith Ellis of Savills Studley.

The new space in the 1904 landmark building is getting a thorough redesign.

"It will combine the legacy of its Gothic architecture with state of the art of technology and seamless connectivity," said Keith Turco, the agency's New York president. "This offers our growing advertising agency a chance to keep embracing change."

The office space is now amenity driven by the tenants, according to building owner Richard Cohen of Capital Properties.

The building, also known as 2 Trinity Centre, is getting a modern high-floor tenant's-only gym, a high-tech conference center with computer "white boards" and a golf simulator with a pro on hand to help correct that pesky slice.

Building owner Richard Cohen of Capital Properties was represented by CBRE's Brad Gerla, Sam Spillane, Adam Foster and Michael Rizzo.

"They love the look and feel of the building," said Gerla of the tenant.

Gyro believes the Big Apple is "fertile ground for a new generation of creative thought."


A second outside-the-box thinker is moving to the Empire State Building at 350 Fifth Ave., the southwest corner of West 34th Street.

BrightRoll, a platform for online video ads, is joining fellow TAMI (or technology, advertising, media and information) tenants, including LinkedIn and Shutterstock, at the Midtown landmark.

The company will move up to the entire 55th floor of 26,286 square feet, with an asking rent of $62 a square foot. The company is shifting from a space roughly half the size at 330 Fifth Ave.

Deborah van der Heyden and Paul Ferraro of JLL represented BrightRoll.

"All of the companies want to be Midtown South, but many buildings have footprints under 20,000 square feet, so taking many floors becomes inefficient," van der Heyden said.

The Empire State Building also has a conference center and a large tenants-only gym, but the status of being at one of the world's most famous addresses has proved to be quite the vital recruiting tool, tenants in the building said.

"Out of towners and foreigners love to tell friends they work at the Empire," she said. "The building has become a campus in an urban setting."

Billy Cohen , Shanae Ursini , and Jonathan Tootell of Newmark Grubb Knight Frank represented the Empire State Realty Trust, with Fred Posniak and Ryan Kass working the deal in-house.


Porsche has leased a pop-up store in the Meatpacking District for the 50th Anniversary of its 911 coupe and to show off a new car to mark the occasion.

The 4,400 square-foot ground-floor space at 446 W. 14th St. will be open from Sept. 16 though Oct. 15 with both public and private events.

Chris Guzzello of Sinvin represented Porsche in the pop-up deal, which sources said had an asking rent of $450 per foot.

Joe Sitt's Thor Equities owns the 26,000 square-foot building that has a roof deck overlooking the High Line.

In a nod to the year of its introduction, only 1,963 of these wider and power-boosted vehicles will be made. They come with a hefty price tag of $124,100, plus $950 for a destination charge.

Porsche 911, available in two shades of gray and black, can zip zero to 60 mph in 3.8 seconds and hit a top speed of 185 mph.

The center panels of the leather seats are designed with a fabric pattern reminiscent of the "Pepita" tartan design from the 1960s, while the full-leather interior is designed in agate gray or black with decorative stitching, some in contrasting color.


The Jackson Group, led by Chief Executive Ike Chehebar and Vice President Jonathan Nachmani, has sold its sprawling 40,000 square-foot Borough Park retail portfolio for $36 million. It was purchased three years ago for $22.7 million.

The Brooklyn-based stores span three blocks from 4310-24 to 4506 13th Ave., with current area rents running $75 to $100 per square foot.

Moshe Majeski of Meridian Capital Group reppred the deal for The Jackson Group.

The buyer wasn't named.


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