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Deals & Dealmakers

LEASES: Mosello of Kaufman executes three deals, Kiddie Academy leases in Jersey

NEW YORK

Adams & Co. Real Estate announced the following leases:
• A 5,791 s/f new lease for Sakar International, Inc. at 10 West 33rd Street. The company will be moving within the building from a 3,263 s/f office and showroom space on the 12th floor to a larger floor-plan on the fourth floor. David Levy, principal, represented the landlord, Ten West Thirty Third Associates LLC, while Abraham Hidary of Hidrock Realty represented the tenant. Sakar International has been a tenant in the building for 10 years. The company is a manufacturer of consumer electronics and accessories.
• A 6,500 s/f renewal for Executive Color Systems, Inc. at 42 West 39th Street. The company will continue using the 5,000 s/f space on the 18th floor of the building, and the 1,500-square-foot penthouse space it occupies, as executive and general offices. David Levy represented the tenant and the landlord, 42-52 West 39th Street LLC. Asking rent was $48 psf. Executive Color Systems is a printing solutions company.

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Eastern Consolidated has arranged a five-year, 2,500 s/f office lease for hotelier Sixty Hotels at 206 Spring Street in SoHo. Sixty Hotels, which operates luxury hotels in New York City, Los Angeles, Miami, and soon Montreal, is relocating its business office from 54 Thompson Street. James Famularo, principal and Senior Director in Eastern Consolidated’s Retail Leasing Division, represented the landlord, while Rick Johnson, BSD Realty Worldwide, represented Sixty Hotels.

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The Kaufman Organization announced that associate broker Maxwell Mosello has executed three deals totaling 7,976 s/f. The three leases include:
• Creations Métaphores, a division of Holding Textile Hermès and supplier of high-end soft furnishings, extended their two-year, 1,525 s/f lease at 1407 Broadway. Asking price for the space, which will be used as an office and showroom, was $60 psf. Mosello represented the tenant; Bob Forman of Shorenstein Properties represented the landlord in-house.
• Shiftgig Inc., a tech company that connects businesses with service industry workers via mobile application, signed a five-year, 2,700 s/f lease at 302 West 27th Street. Asking price for the full-floor space was in the high $40’s psf. Mosello represented the tenant and his colleague at Kaufman, Aron Orbach, represented the landlord, MJ Orbach Associates Inc.
• Robert P. Russo, CPA, a certified public accountant firm signed a sub-lease for 3,751 s/f at 519 8th Avenue. The accounting firm was drawn to the shared space due to the newly renovated lobby, 24/7 building access, and proximity to mass transportation. Mosello represented the tenant and Kaufman colleague, Yvonne Cheng, represented the sub-landlord.

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Savitt Partners arranged a long-term lease expansion on behalf of NeeD Accounting Services at Olmstead Properties Inc.’s 180 Varick Street. The accounting services firm relocated from a 1,000 s/f office space to a 3,168 s/f suite in the property. Marc Schoen, Michael Schoen and Brian Neugeboren of Savitt Partner’s Schoen Group, acted on behalf of the tenant, while the ownership was represented by Steve Marvin of Olmstead Properties. NeeD is an example of a film and entertainment ancillary company located on the West Coast that has expanded their New York presence. The principals decided on space at 180 Varick due to the fact that the building houses many of the industry’s creative companies.

NEW JERSEY

In a transaction orchestrated by Cushman & Wakefield, Kiddie Academy of Montville is the latest tenant to sign on at 350 Main Road, a 34,000-square-foot, two-story professional office building in the Morris County community. The firm’s East Rutherford, N.J.-based team of David DeMatteis, Jeffrey Prezant, and Mina Shehati represented property owner DRA 350 Main LLC of Summit, N.J. in the 11,570-square-foot, 16-year transaction on the building’s second floor. Kiddie Academy, operated by a franchisee, was represented by David Schwartz of APREA Inc. Kiddie Academy joins a pediatric dentist with a long-term lease at 350 Main Road, which currently has 13,000 square feet of contiguous space available.

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Title insurance agency First Bergen Title Agency LLC (First Bergen) has renewed and expanded to 2,800s/f of headquarters office space at Court Plaza North in Hackensack, N.J. Located at 25 Main Street, the Class A office property is owned and managed by Alfred Sanzari Enterprises. The transaction was negotiated in-house by Alfred Sanzari Enterprises.

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