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NEW YORK CITY - Open Space Institute (OSI), a nonprofit organization that protects scenic, natural and historic landscapes, has expanded its own space by more than a third at W&H Properties' 1350 Broadway, announces Jonathan Fanuzzi, managing director of Newmark Knight Frank, the building's managing and leasing agent.
The organization now occupies 12,000 square feet on the second floor.
"It's a good time to be a tenant here," notes Mr. Fanuzzi. “An ongoing $53-million capital improvement program is transforming the property into one of the most prestigious in the area. We're delighted that OSI will be able to enjoy the results of these renovations."
OSI is devoted to conserving habitats and sustaining community character through land acquisition, conservation easements, regional loan programs, fiscal sponsorship, creative partnerships, and analytical research. The organization has protected more than 100,000 acres through the New York Land Program, and by means of direct acquisitions and conservation easements in New York State. Through the Conservation Finance Program, which provides low-cost bridge loans, OSI has assisted in the protection of an additional 1.6 million acres along the East Coast. The organization’s Conservation Institute influences land use policy and practice through research, communication and training.
Steven Jaray and Brian Given of GVA Williams represented OSI in the lease negotiations. Mr. Fanuzzi represented the landlord, along with Brian Waterman of Newmark Knight Frank.
Situated on the north side of Herald Square in the Penn Plaza district, 1350 Broadway contains 25 stories and more than 400,000 square feet. It offers convenient access to the Long Island Rail Road, Metro North, New Jersey Transit, Amtrak, Port Authority, PATH and fifteen subway lines.
The property's program of capital improvements includes a new lobby, renovated elevators, upgraded building systems, renovated air-conditioned public corridors, and new restrooms.
The building is owned by 1350 Broadway Associates L.L.C, a partnership led by Peter L. Malkin.
Broker commissions are paid in full at lease signing.
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