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Deals & Dealmakers

LEASES: Art consultants leases space in Midtown; Fashion tech startup finds 7th Ave home

NEW YORK

HSP Real Estate Group, a member of NAI Global, announced that Howard Epstein, Director/Leasing, arranged a lease at 16 West 36th Street for Indiewalls, Inc., an international consulting firm that curates art collections for developers, hotels, restaurants and more. The 2,526 s/f office is located between Fifth and Sixth Avenues. The new tenant is relocating from 335 Madison Avenue. Epstein represented the landlord Kiamie Industries Inc. The tenant was represented by Lee & Associates. Asking rent for the five year-plus lease was $52 per square foot.

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Savitt Partners announced the following leases:
• Dropel Fabric, a fashion tech start-up, is joining other major technology, creative and fashion tenants at Space 530. Dropel was first introduced to Space 530 during the 2015 New York Fashion Tech Lab class, a fashion-tech accelerator program. The company transitioned into full time co-working membership after the program, and has since grown into full time office space taking 1,000 s/f for its New York Cty headquarters in Space 530.
• B2B procurement platform Negotiatus has inked a 4,139 s/f lease at 260 West 39th Street. The growing purchasing solution that allows businesses to link all their vendor accounts and order all supplies in one place, will relocate its New York City headquarters to part of the 15th floor of the tower owned operated by MJ Orbach Associates. The asking rent was $48 psf. Previously occupying 850 s/f at 122 West 26th Street, Negotiatus was repped by Elliot Zelinger and Patrick Finn acted on behalf of Negotiatus. MJ Orbach Associates was represented in house by Michael Orbach.

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Lee & Associates NYC announced the following leases:
• Dennis Someck, Justin Myers and Conor Krup arranged a 4,500 s/f lease for the entire eighth floor at 15 West 26th Street for Velem. The full-service post production studio is a division of Milk Group that specializes in print, digital and film. Someck represented the tenant in the seven-year lease. The landlord, Mesa Realty Associates, was represented by Peter Liptrot of Bernstein Real Estate. The asking rent was $60 psf.
• Dennis Someck, Justin Myers and Conor Krup arranged a 7,176 s/f lease for the entire 28th floor at 30 Broad Street for JSM Music. The commercial music production company has produced numerous Super Bowl commercials and has collaborated with brands such as Budweiser and Microsoft. Someck represented the tenant in the ten-year lease. The landlord, Tribeca Associates, was represented by Andrew Peretz, Hal Stein, David Malawer and Daniel Appel of Newmark Knight Frank. Asking rent was $63 psf.

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T. Weiss Realty Corp. announced that four new tenants took occupancy at its Melville Corporate Center I during the first quarter of 2018 and that it has signed lease renewals, effective in 2018, for more than 18,000 s/f in its various Melville office buildings during the same period. New tenants at Melville Corporate Center I, 105 Maxess Rd., collectively occupied 9,105 s/f. The transactions included:
• Hartford Fire Insurance Co., which leased 3,148 square feet in a deal brokered by Richard Freel of CBRE. T. Weiss President Craig Weiss represented the landlord in-house.
• Hollander Legal Group, P.C., a law firm focused on insurance and criminal defense matters, which leased 2,594 s/f in a direct transaction negotiated for the landlord by Weiss.
• Homebridge Financial Services, Inc., a home mortgage lender, which signed on for 1,775 s/f in a transaction brokered by Roger Wooster of Cushman & Wakefield of Long Island and the landlord’s Craig Weiss.
• Medicare One LLC, a medicare insurance brokerage that formerly was a tenant in T. Weiss’ Totus Business Center, leased 1,588 s/f in a direct deal.
T. Weiss also reported four lease renewals at its various office properties in Melville, including:
• ERM Consulting & Engineering, Inc., an environmental consulting firm, which re-signed for 5,330 s/f at 105 Maxess Road in a transaction brokered by John Nielsen of JLL and Craig Weiss.
• The Law Office of Peter D. Baron, PLLC , which re-signed for 2,510 square feet at 532 Broadhollow Rd. in a transaction brokered by Marc Berkowitz of The Rochlin Organization and Craig Weiss.
• Jones Lang LaSalle Americas, Inc. the commercial real estate brokerage, which re-signed for 5,198 s/f at 324 South Service Rd. and was represented by Ray Ruiz of JLL. Craig Weiss represented the landlord.

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