For New York’s office tenants, the coworking sector is a factor to be reckoned with, especially as it has grown to accommodate tenants of all sizes. This was among the themes sounded in Lee & Associates NYC’s recent leasing symposium, which brought together a panel of experts from a variety of disciplines. Coworking was “initially viewed as a momentary blip,” said CEO Eliot Spitzer of Spitzer Properties. “People looked at WeWork and said, ‘oh, we’ve…
Lee NYC Hires New 10-Person Sales and Leasing Team
Commercial brokerage Lee & Associates NYC has hired a new 10-person office and retail leasing and sales team that includes three new principals and seven brokers, all of whom came from Advisors Commercial Real Estate. Gregory Gang, Catherine O’Toole and Corey Abdo have been hired as executive managing directors and principals, and they are leading a team that includes new brokers Milana Kakuriyeva, Stephanie Moore, David Scher, Stephen Tarter, David Toran, Ari Waldman and Meagan…
Lee NYC’s 1st Leasing Event Brings NYC Commercial Real Estate Community Together
Lee & Associates NYC welcomed a crowd of over 120 members of the city’s commercial real estate community to Club 101 on Monday to discuss the ins and outs of finding and negotiating a lease for office space in New York City. For their first-ever event, the Lee NYC team hosted a mix of tenants, developers, lawyers, accountants, property owners and more. Sponsors and panelist contributors for the event included the national accounting firm, Withum, the…
New York Office 3Q 2018 Office Market Report
Manhattan direct asking rents in the third quarter averaged out to $73.42, down $0.63 from the second quarter and $0.82 from a year ago. Leasing volume continues to be strong with approximately 25 million square feet leased year-to- date, causing a decrease in both the available and vacant supply of office space below 65th Street. The availability rate decreased slightly by 10 basis points to 11.5% (also the five-year average in Manhattan) from 11.6% over…
Varjan Looking to Stir Things Up in Investment Sales Sector
The mid-market investment sales industry is a land of opportunity for one of Lee & Associates’ new senior managing directors. Chris Varjan was one of six executives hired earlier this summer to build an investment sales division that would compliment the Lee & Associates legacy leasing business and a new residential division. Click here to read the full profile from Real Estate Weekly.
PR Giant Sard Verbinnen Relocating HQ to 65K SF at 909 Third Ave.
Sard Verbinnen & Company, the go-to public relations firm for Wall Street firms during crises, will move its offices to 65,068 square feet at 909 Third Avenue, according to a broker on the deal. The PR firm signed a 15-year lease to take over the entire 31st and 32nd floors of Vornado Realty Trust’s 33-story building between East 54th and East 55th Streets, as The Real Deal first reported. Alan Friedman of Lee & Associates NYC…
Lee NYC Hosts 1st Ever Leasing Symposium 10/29, 8am “Executing the Deal”
Lee & Associates NYC will host its first-ever panel event on Monday, October 29, 8 to 11 a.m., at Club 101 at 101 Park Avenue, between 40th and 41st Streets. Entitled “Executing the Deal,” the symposium will welcome both tenants and landlords. The event will comprise two panels, “Describing the Leasing Process” and “Issues to Be Considered.” Sponsoring the event will be the national accounting firm, Withum, the national architectural/interior design firm, Environetics, and the…
Eastern Consol. Pro to Build L&A Investment Sales Division
Longtime investment sales broker Ben Tapper has landed at Lee & Associates NYC after nearly 15 years at Eastern Consolidated, which shut down earlier this summer. Tapper, 42, started Sept. 5 as a senior managing director at Lee’s newly launched investment sales division, the firm’s spokeswoman told Commercial Observer. He spent 14.5 years selling development sites, commercial condominium units, residential properties and mixed-use buildings, in addition to hammering out long-term leaseholds and 1031 exchanges. Click here…
Not-for-Profit Foster Care Program Relocating Within Upper Manhattan
Lutheran Social Services of New York (LSSNY) has taken 11,366 square feet at 75 West 125th Street to house its foster care program, Commercial Observer has learned. The space spans the third and fourth floors of the four-story, 27,933-square-foot property between Fifth and Lenox Avenues, according to information provided by Lee & Associates NYC, the tenant’s broker. Click here to read the full article from Commercial Observer.