Monthly Archives: January 2014

Chinese Flag

Chinese invest Billions in US Real Estate market

Chinese investors broke sales records in their drive to purchase U.S. commercial real estate in 2013, and analysts expect they will remain active in the global market, with untapped billions more to invest in coming years. The U.S. real estate market attracted $3.1 billion of capital
from China last year — an increase of more than 900%.

Details can be found here:

http://www.costar.com/News/Article/Hit-by-Slowing-Growth-at-Home-Chinese-Investors-Shift-Billions-to-US-Real-Estate/156777

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Farewell to Pete Seeger

NYC Office Chronicle

Farewell to Pete Seeger

We mark with sadness the passing of Pete Seeger. As an activist he had a significant impact on New York and the Hudson River. His music has affected generations. His presence will be missed by many.

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2014 to be a good year to build

NYC Office Chronicle

2014 to be a  good year to build

As you look around New York City there is a lot of evidence that the development environment is shaping up to be robust. Residential development will lead the way, One57 towers over midtown, 432 Park Avenue will be under way, a residential pyramid is going up on West 57thStreet, ground was broken at 855 Sixth Avenue and a development will begin at 605 West 42ndStreet. The demand for housing is driving all this. Commercial properties will follow.

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Metro-North Railroad woes continue

NYC Office Chronicle 

Metro-North Railroad woes continue

Thursday night Metro-North suffered a power failure at their control center at Grand Central Terminal, cutting service to the Hudson, Harlem and New Haven Lines for two hours. Many commuters sat on trains between stations, while Grand Central Terminal was wall-to-wall people standing still. Hopefully MNRR will be able to prevent future outages like this as well as continuing to improve their overall service. I’m sure we all have our own commuting or travel horror stories.

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Tournament of Champions

NYC Office Chronicle

Tournament of Champions

The J.P. Morgan Tournament of Champions, the world’s largest squash spectator event, is the only sports championship hosted annually in Grand Central Terminal. A temporary glass walled court is constructed in Vanderbilt hall for the event which will be held from January 17th to the 24th.

Dutch Masters on Display

NYC Office Chronicle 

Dutch Masters on Display

The Frick Museum has an exhibit of Dutch Masters that closes after January 19, so this is the last weekend to see some fine paintings on loan to the Frick. Admission is free this Friday from6:00 PM to 9:00 PM. One of the most famous paintings on display is Vermeer’s Girl with a Pearl Earring.

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Bitcoin future currency for real estate?

Bitcoin future currency for real estate?

Bond New York has begun accepting Bitcoin, the online currency, as payment for real estate transactions. Bond is offering this as an additional service to its customers to make real estate transactions as convenient as possible.

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NYC Office Subleases Galore

NYC Office Subleases Galore
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Newsletter of Wharton Property Advisors, Inc.
January 2014

Best Deals on Office Space in New York City

 

“While I relish our warm months, winter forms our character and brings out our best.”

Tom Allen

 

Hopefully everyone took precautions with the recent waves of frigid weather engulfing New York City.

While the weather has been cold, the real estate market has been hot. Just as you have to prepare for the weather, you need to be prepared to face the buffeting of the office market in NYC. Wharton Property Advisors continuously monitors the market so we are ready to help our clients.

Is your lease coming due soon or have you outgrown your space? If so, then Wharton Property Advisors can help. We search NYC for the most advantageous office space situations and then help our clients negotiate favorable terms. Or, if you like your current space we can help renegotiate your lease. We always represent our clients with honesty, diligence and integrity.

Below is a sampling of the best deals now available.

 

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/6/Text.jpg531 West 25th Street
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4,000 RSF        $49/SF

Sublease from Mediabend Capital, Inc.
One office, 2 conference rooms, open area with seating for 35. Beautiful
turnkey sublet space in High Line District. Ideal for New Media, Creative,
Advertising or Fashion use.
Lease term through May 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/7/Text.jpg805 Third Avenue
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2,700 RSF        $46/SF

Sublease from Terra Capital Partners.
Five windowed offices, conference room, pantry. Totally turnkey, new space with furniture and phones included. Ideal for law firm, private equity or any office use.
Lease term 1 to 3 years.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/8/Text.jpg550 Fifth Avenue
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6,963 RSF        $40/SF

Sublease from Auriga USA Inc.
Newly built space, Seven windowed offices, 2 interior offices, open area for 37 trading desks, pantry. 12 tons of supplemental A/C with plenty of infrastructure for all technology needs. Unique penthouse breakout space. Furniture and phones available. Ideal for trading firms, technology firms, new media and hedge funds.
Lease term through June 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/9/Text.jpg55 Broad Street
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10,499 RSF        $35/SF

Sublease from Global Advertising Strategies, Inc.
9 offices, conference room, open area, pantry, reception area.
Lease term through December 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/10/Text.jpg1 Liberty Plaza
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5,422 RSF        $40/SF

Sublease from Quantum Corporation.
One office, open area with 7 workstations, large training room, 2 conference rooms, pantry, reception area. Ideal for financial services, media or creative firms. Furniture available.
Lease term through April 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/11/Text.jpg601 West 26th Street
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22,180 RSF        mid-$40’s/SF

Sublease from Strivectin Operating Company, Inc.
Eleven windowed offices, 3 interior offices, cubicles for 49 or more, pantry, conference room. Access to terrace,
Lease term through March 2022.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/12/Text.jpg32 West 39th Street
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7,900 RSF        mid-$20’s/SF

Sublease from Concept One Accessories.
Twelve windowed offices, two interior offices, six workstations, conference room, pantry, IT/storage room, reception area. Furniture available.
Lease term through May 2019.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/13/Text.jpg60 East 42nd Street
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2,253 RSF        $49/SF

Sublease from Allied Properties Inc.
Three offices, conference room, open area, kitchen, reception area. Includes all furnishings, phone system, copier and security equipment.
Lease term through October 2015.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/14/Text.jpg140 East 45th Street
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5,016 RSF        $55/SF

Sublease from JCJ Architecture.
One office, conference room, open area for 14, pantry, reception area.
Lease term through February 2017.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/15/Text.jpg1 Rockefeller Plaza
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13,265 RSF        $65/SF

Sublease from Investor Growth Capital, Inc.
22 private offices, 3 conference rooms, large boardroom, reception area.
Furniture and phones available.
Lease term 2 to 8 years.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/16/Text.jpg140 Broadway
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8,371 RSF        $50/SF

Sublease from Blackfield Capital.
Six glass enclosed offices, conference room, 2 large open bullpen areas, pantry. Perfect for hedge fund, trading or creative use.
Lease term 5 to 10 years.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/17/Text.jpg1633 Broadway
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12,077 RSF        $46/SF

Sublease from Dickstein Shapiro LLP.
Fourteen windowed offices, 14 interior offices, 6 workstations, conference room, reception area.
Lease term 3 to 11 years.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/18/Text.jpg350 Madison Avenue
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13,115 RSF        mid $40’s/SF

Sublease from Gaiam, Inc.
Fourteen glass fronted offices, 17 workstations, boardroom, conference room, pantry, reception area. Large terrace with outdoor seating. Ideal for trading or hedge funds.
Lease term through March 2015.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/19/Text.jpg509 Madison Avenue
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4,300 RSF        $65/SF

Sublease from Kensai Asset Management.
Four windowed offices, trading floor with space for 14 people, 2 conference rooms, pantry, reception area. Furniture and phones available.
Lease term through April 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/20/Text.jpg535 Madison Avenue
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8,432 RSF        $63/SF

Sublease from Asahi Kasei America, Inc.
Large corner office, large open area with 20 workstations, 2 conference rooms, pantry, reception area. Furniture included, phones available.
Lease term through December 2017.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/21/Text.jpg570 Lexington Avenue
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7,465 RSF        $35/SF

Sublease from H.C. Wainwright & Co,. LLC.
Seven offices, conference room, pantry, reception area. 2 Terraces. Furniture available.
Lease term through May 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/22/Text.jpg777 Third Avenue
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7,383 RSF        $62/SF

Sublease from Ivory Capital.
Eleven windowed offices, 2 conference rooms, open bullpen with 10 positions, pantry, large IT room with supplemental A/C, reception area. Fully furnished.
Lease term through June 2016.

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http://www.SwiftPage4.com/CampResource/2W0KYWFTM7EBLA78/23/Text.jpg780 Third Avenue
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5,665 RSF        $61/SF

Sublease from Helios Advisors LLC.
Seven windowed offices, large open area for 11 workstations, conference room, pantry, reception area. Furniture available.
Lease term through October 2017.

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Contact Ruth Colp-Haber at
212.759.0408
ruth@whartonproperties.net
for more details about these spaces and other opportunities.

www.whartonproperties.net

 

Wharton Property Advisors, Inc. helps NYC office tenants find and dispose of office space. We provide the full range of commercial real estate services. Finding and negotiating great deals is our specialty. Moreover, we represent our clients wit intelligence, honesty and diligence!

 

 

 

office space nyc

Pressure on for NYC Bookstores

NYC Office Chronicle 

Pressure on for NYC Bookstores

Barnes & Nobles has closed its store at 105 Fifth Avenue. Now Rizzoli, which has been at 31 West 57th Street for 29 years will need to find a new home as plans are under way to demolish the building and two adjacent buildings for a new development.

You can read more about it in the New York Times article

http://nyti.ms/1andlbM

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