Within the first month of 2013, two technology-directed businesses took long-term leases totaling 19,839 s/f and a fashion-based firm, FYC Apparel, signed a 10-year renewal lease for its 17,748 s/f full-floor offices at 1412 Broadway.
The 24-story, 415,135 s/f pre-war office building is owned and managed by an affiliate of Harbor Group International, LLC.
The first lease, comprising 14,436 s/f on the 22nd floor, is for Grind, a members-only collaborative workplace. It is the second New York City unit for the company, which has a workspace in Flatiron, and a third one in Chicago.
The next lease was signed by Quartet Financial Services, which took a 5,403 s/f on the 23rd floor. The international financial software developer and analyst also has offices in London, Paris, Singapore, Jersey City, NJ and Hawthorne, NY.
“Many of the newer tenants coming to the building are technology-focused,” said Jordan E. Slone, chairman and CEO of HGI.
“The upgrades we have made to the infrastructure, along with the completion of a sleek and sophisticated lobby renovation, have succeeded in diversifying the tenant base.”
Since acquiring 1412 Broadway in 2010, Harbor Group International has invested more than $10 million in renovations, including a comprehensive capital improvement program that increased the building’s electrical capacity and modernized its telecommunications and fiber-optic infrastructure.
In addition, a $1 million renovation of the lobby, entry façade, corridors and restrooms was completed in 2012.
Brian Boehmcke, vice president of asset management for Harbor Group International, said, “We have orchestrated an amazing turnaround in the building within a relatively short period and are now 95 percent occupied. Beyond the comprehensive upgrades, the location has also been a key factor.”
Greg Postyn of Walter & Samuels represented Grind and Lewis Cowen of Mohr Partners represented Quartet Financial Services. FY Apparel was represented by Jesse Rubens of Murray Hill Properties.