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Deals & Dealmakers

Arcade Beauty takes 10,151 s/f at 1740 Broadway

Blackstone-affiliate Equity Office announced the lease signing of Arcade Beauty at 1740 Broadway.

A leader of sampling solutions for global beauty and wellness brands, Arcade Beauty signed a 10-year lease to occupy 10,151 s/fof pre-built space on the partial 14th floor.

Asking rents in the building average in the high-$70s psf. The company will relocate from 1700 Broadway in early 2017.

“1740 Broadway is part of an emerging neighborhood attracting a diverse mix of industries,” said Equity Office’s Scott Silverstein.

“We have focused heavily on our innovative pre-built spaces within the building, implementing forward-thinking design and finishes that have been well-received by brokers and prospective tenants. This was the case with Arcade Beauty, as they had a desire and appreciation for something fresh and creative in the area.”

1740 Broadway is a 28-story building between West 55th and 56th Streets. Built in 1950, the former Mutual of New York headquarters spans a total of more than 620,000 s/f.

It was originally designed by architecture firm Shreve, Lamb and Harmon – the same firm behind the Empire State Building – and was renovated by MdeAS Architects in 2007.

Equity Office acquired the building from Vornado Realty Trust in 2014 and recently launched a new pre-built program to feature state of the art spaces like Arcade Beauty’s, complete with a Tagwall Sash office system, residential-style pantry, concrete floors and laminated, exposed ceilings.

Howard Fiddle, Zak Snider, Arkady Smolyansky and Ben Joseph of CBRE Group, Inc. represented the ownership in the transaction.

Equity Office manager Scott Silverstein and vice president Zachary Freeman represented Equity Office in-house. TJ Hochanadel, Rob Martin and Christine Tong of JLL represented Arcade Beauty.

Other tenants at 1740 Broadway include Victoria’s Secret and Davis & Gilbert.

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