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Deals & Dealmakers

LEASING ROUNDUP: Adama Partners at 530 Seventh; Ptarmigan Media on East 33rd


Savitt Partners announced that Adama Partners signed a long-term, 7,400 s/f lease for its corporate headquarters on the seventh floor of 530 Seventh Avenue (pictured top). The venture capital and strategic advisory firm focused on the global gemstone and jewelry industries, plans to relocate its New York City headquarters from 60 East 42nd Street to newly designed space within the 490,000 s/f, Art Deco building. Bob Savitt of Savitt Partners, along with Brian Neugeboren and Nicole Goetz represented the ownership in the Adama Partners lease negotiations. Lauren Davidson and Lindsey Ornstein of Transwestern advised Adama Partners.
Adams & Co. Real Estate announced the following leases:
• A 5,242 s/f renewal for Phase II Products at 121 East 24th Street. The company, which is known for making quality window treatments, will continue using the fourth floor space of the 12-story building as a showroom, design space and office. James Buslik and Bradley Cohn of Adams & Co. represented both the tenant and the landlord, Kofler Associates. Although full details of the new, seven-year transaction were not disclosed, asking rent was $50 psf.


• A 3,000 s/f new deal for Ptarmigan Media at 10 East 33rd Street. The media solutions company for financial services will use the entire ninth floor of the 12-story building as an office. Bradley Cohn and Alan Bonett of Adams & Co. represented the tenant, while William Cohen, David Emden and JD Cohen of Newmark Grubb Knight Frank represented the landlord. Although the details of the transaction were not disclosed, the asking price was $54 psf.
Eastern Consolidated arranged a 7,882 s/f, 10-year office lease at 535 Eighth Avenue for Inspiron Construction Management. Inspiron is relocating from its current location at 511 Canal Street.Exclusive agents Erik and Jeff Nissani, both Senior Directors at Eastern Consolidated, exclusively represented the tenant in the transaction. In-house agent Daniel Breiman of Olmstead Properties represented the building owner, 535 Eighth Avenue LLC.


CBRE announced five new leases, three renewals and a co-working facility totaling 43,000 s/f at 700 Canal Street in Stamford, CT. The CBRE team of Brian Carcaterra, senior vice president, Michael McCall, vice president, and Morgan Collins, senior associate, oversee leasing and marketing on behalf of ClearRock Properties, Mountain Development Corp. and Gottesman Real Estate Partners, which acquired the property as part of a 250,000 s/f three-building portfolio including 850 and 860 Canal Street.
• Of the five new leases, the largest arranged by CBRE was for Providence Service Corporation, a healthcare and social services company, for 7,548 s/f.


• Arbour Lane Capital Management, secured 5,166 s/f of space; E4sciences, an environmental engineering firm, secured 3,596 s/f; Avant Capital, a financial services firm that recently moved from Greenwich, leased 2,663 s/f; and Fields Development, a real estate development firm, took 1,345 s/f.
• Renewals include US Beverage for 6,681 s/f, Mezzapelle & Associates, a tax services firm, for 2,400 s/f and the marketing firm Boldheart, which downsized to 960 s/f.
• Serendipity Labs, a national co-working operator based in Rye, NY, will open a 13,000 s/f membership-based workplace on the ground floor. Serendipity Labs offers private offices, co-working options, space.


Litigation law firm Pearce Law LLC has renewed its lease at Court Plaza North, located at 25 Main Street in Hackensack, N.J. A tenant at the Alfred Sanzari Enterprises-owned and managed Class A office complex since 1988, the law firm occupies 4,100 square feet on the sixth floor. The transaction was negotiated in-house by Stephen C. Jennings, Alfred Sanzari Enterprises’ vice-president of leasing and marketing.

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