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NEW YORK CITY - August might have been a slow month at some Manhattan properties, but it was busier than ever at W&H’s 1350 Broadway, where three leases totaling nearly 50,000 square feet were signed in one week.
Law firm Tarter Krinsky & Drogin expanded its space by approximately 40% at the building, where it will occupy 26,951 square feet on the entire 11th floor and part of the 12th floor. Paul Amrich and Fernando Urrutia of CB Richard Ellis represented the tenant in the transaction.
Employment law firm Cary Kane also expanded its space, and will occupy 8,877 square feet on the 14th floor (approximately 60% more space than it occupies now). Ira Rovitz of Grubb & Ellis represented the tenant in the transaction.
The Hawthorne Agency (dba Coface), a provider of commercial trade credit information and political risk insurance, renewed its lease for 12,288 square feet on the 20th floor. Jay Lapham of Jones Lang LaSalle represented the tenant in the transaction.
Jonathan Fanuzzi, Brian Waterman and Julie Christiano of Newmark Knight Frank represented the landlord in each transaction.
"W&H prides itself on flexibility," says Fred C. Posniak, senior vice president of W&H Properties. "If a tenant's business is growing, we'll make sure that we find the space to accommodate its growth. Expansions are especially meaningful to us because they reflect not only the success of the tenant's business, but also the success of our commitment to tenant satisfaction, which, of course, is reflected in renewals as well.
"We're delighted that Tarter Krinsky & Drogin, Cary Kane and The Hawthorne Agency, all prestigious, credit-worthy firms, have extended their tenancies with us," adds Mr. Posniak.
Situated on the north side of Herald Square in the Penn Plaza district, across from Macy’s flagship location, 1350 Broadway contains 25 stories and more than 400,000 square feet of modern office space. It offers unsurpassed access to transportation, steps to the Long Island Rail Road, Metro North, New Jersey Transit and Amtrak at Penn Station, Port Authority, PATH, 15 subway lines and all major bus lines.
The property's on-going $53 million upgrade program includes a new lobby, renovated elevators, a new roof and façade, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of W&H Properties Pre-War Trophy office portfolio, the building is owned by 1350 Broadway Associates L.L.C, a partnership led by Peter L. Malkin and Anthony E. Malkin, one of New York City's most financially stable ownerships. W&H Properties is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives.
Available space ranges from efficient full floors of 11,000 to 14,700 square feet, W&H portfolio standard high-end pre-built units from 3,000 to 4,000 square feet, along with units available for immediate occupancy from 1,500 square feet.
Broker commissions are paid in full at lease signing.
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