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Deals & Dealmakers

Ofer Yardeni’s Stonehenge moves HQ to Rudin’s 1675 Braodway

The Rudin Family, one of New York City’s largest private owners, operators and developers of first-class real estate, announced that Stonehenge Management has signed a 10-year, 14,000 s/f lease at 1675 Broadway, a 35-story, 850,000 s/f office tower in the heart of Midtown West.

Ofer Yardeni

Stonehenge Management, a private real estate company led by Ofer Yardeni, is taking a portion of the 21st floor of the property. The company, which owns a portfolio of properties in Manhattan comprised of 18 buildings with 2,400 apartments, will be relocating its corporate offices from 888 7th Avenue in fourth quarter of 2018.

“We are delighted that one of the leading names in New York City’s residential real estate community has chosen 1675 Broadway as its New York headquarters,” said Michael Rudin, Senior Vice President of Rudin Management Company. “Stonehenge joins our other prestigious tenants at 1675 Broadway, a building with excellent visibility, high foot traffic and convenient proximity to Times Square and multiple subway lines.”

Stonehenge Management was represented by Lance Korman and Brian Waterman of Newmark Knight Frank. Building ownership was represented by Robert Steinman, Senior Vice President at Rudin Management Company.

The new transaction for Stonehenge Management continues an impressive surge in leasing activity at 1675 Broadway. Over the last 12 months, Rudin has signed three full floor leases totaling 81,000 square feet at the property, including law firms Ballard Spahr and Roberts & Holland, as well as and financial services firm Spielman Koenigsberg & Parker. In 2016, Rudin finalized a 24,000 square-foot lease for fintech firm Bankrate Inc at the building, and before that, it completed two separate transactions with global advertising and media company Publicis Groupe, totaling 605,000 s/f.

Built in 1989 by Jack and Lewis Rudin, the  green-gray Canadian granite office building at 1675 Broadway was constructed using the air rights over the adjacent Broadway Theatre. Designed by Fox and Fowle Architects and situated at the corner of Broadway and West 52nd Street, the building features an Italian marble-clad lobby with vaulted ceilings, virtually column-free floor plates that can accommodate up to 10 corner offices, and a 60-car parking garage. The property is Wired Certified Platinum,

According to Steinman, Rudin is currently marketing approximately 27,000 s/f of prime pre-built space on the building’s 18th floor and a 10,195 square-foot space on a portion of the 21st floor, which are available immediately. It is also marketing a block of approximately 100,000 square feet on floors 31 through 35, which will become available starting in July 2018.  Asking rents for floors 18 and 21 are $75 per square foot while the asking rent is $85 for the top five floors.

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