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Deals & Dealmakers

Cushman & Wakefield to lease Midtown South buildings

Rodney Propp’s Propp Companies has tapped Bruce Mosler and his team from Cushman & Wakefield the neighboring 520 and 524 Broadway office buildings.

The buildings are located at the corner of Broadway between Spring Street and Broome Street in SoHo.

“If I were to create the ideal agency team from scratch, I could not do better than Bruce Mosler and his team,” said Propp, whose company is in the throes of a renovation program at the buildings that include lobby renovations, upgrades to the elevator cabs and building systems.

520 Broadway will be available for move-in this fall, while 524 Broadway will be available in early 2016.

Mosler, along with Mark Mandell, Ethan Silverstein, Susan Clayton and Whitney Anderson will serve as exclusive leasing agents.

“520 and 524 Broadway are two fantastic buildings that offer premier office space in one of the most desirable locations in Manhattan,” said Mosler, Cushman & Wakefield Chairman of Global Brokerage.

“The SoHo neighborhood in Midtown South features incredible shopping and dining, with convenient access to major transportation, creating an ideal work-play environment.”

520 and 524 Broadway are located in Manhattan’s Midtown South submarket, which has an office vacancy rate of 6.6 percent and has been the tightest Central Business District in the nation for several years.

The area is popular among media and technology companies, and is known for its variety of shops ranging from trendy upscale boutiques to national and international stores.

520 Broadway is an 11-story building, with a total of 44,000 s/f of office space. The retail space in the building recently became home to Michael Kors’ three-level flagship.

524 Broadway is an 11-story office building, with a total of 90,000 s/f of office space available for lease. Tenants in the building include Corcoran, as well as women’s clothing retailer, Aritzia.

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