Insights

The brokers at Lee & Associates NYC have gone through a lot of changes in the past few months. They left their Madison Avenue digs for a new headquarters at 845 Third Avenue in April and rebranded two of their divisions in April to share their California colleagues’ name: Lee & Associates Management and Lee & Associates Development. Click here to read the full story from Commercial Observer. 

On Friday, March 29th, 2019, Lee & Associates NYC said goodbye to 600 Madison Avenue, our home for the last eight years. After undergoing significant expansion in both business and personnel over the past 12 months, the company simply outgrew the space. As a result, we are excited to announce that we have relocated to 845 Third Avenue, where all Lee & Associates NYC businesses will be housed under the same roof for the first…

“There’s no hiding from that phenomenon,” said Dennis Someck, executive managing director and principal at Lee & Associates, which brokered 409,582 square feet in Manhattan in 2018, according to TRD’s analysis. “Tenants look at those options, it gives them flexibility, so they are willing to pay that premium.” Click here to read the full article from The Real Deal. Illustration by Tiago Galo via The Real Deal.

Therapath, a medical services group that provides expert neuropathology services to hospitals and clinicians, has renewed its 13,395-square-foot space on the entire seventh floor at 545 West 45th Street. The company, which has been in the building between 10th and 11th Avenues for 10 years, has signed a five-year renewal starting in October. The asking rent was $45 per square foot. Lee & Associates’ Dennis Someck, Justin Myers and Aidan Velle negotiated the deal for…

Lee & Associates NYC’s property management and project management arms—Sierra Real Estate and Sierra Development—will now all share the Lee & Associates name. The companies will rebrand to become Lee & Associates Management and Lee & Associates Development in an effort to capitalize on the Lee name Lee & Associates NYC leadership feels it built on the brokerage side in New York City, said Peter Braus, the managing principal at Lee. After undergoing a significant…

Thirty years ago, James Wacht was a young real estate attorney whose clients included a rough-around-the-edges property management firm named Sierra Realty Corp. “They were your typical old-school real estate guys. Yellers and screamers, table pounders,” he said. “But I got along with them.” Newly married and looking to start a family, Wacht decided to leave the legal business, and he joined Sierra in 1989. Today, the 63-year-old is president of the commercial brokerage Lee…

The public relations powerhouse BerlinRosen is expanding to 24,500 square feet at 15 Maiden Lane. Ari Waldman of Lee & Associates NYC represented the PR company, while the sublandlord was represented by Lee colleagues Greg Gang and Catherine O’Toole. Click here to read the full story from the New York Post.

Commercial brokerage Lee & Associates NYC will move its Manhattan headquarters from Madison Avenue to 845 Third Avenue. Lee NYC signed a five-year sublease with Kroll Bond Rating Agency (KBRA) for 26,000 square feet on the fourth floor of the 21-story 845 Third Avenue between East 51st and East 52nd Streets, brokers on the deal said. Savills Studley’s David Carlos, Kurt Handschumacher and David Dwight represented KBRA in the deal while Lee NYC’s James Wacht and Mitchell…

Condominium developer Naftali Group will nearly double its office space and move to Carnegie Hall Tower, Commercial Observer has learned. Naftali signed a 10-year lease with TF Cornerstone for 8,455 square feet on the entire 45th floor of the 60-story building at 152 West 57th Street between Avenue of the Americas and Seventh Avenue, according to Lee & Associates NYC, which brokered the deal for the tenant. Click here to read the full story from…