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The New York Organ Donor Network has signed a lease for 30,000 square feet at 460 W. 34th St. The federally funded nonprofit group plans to move to the 15th floor in October 2009. Asking rents for the space were $32 per square foot. The new quarters represent an expansion of 10,000 square feet from the network’s current location at 131 W. 32nd St. Snow Becker & Krauss partner Paul Kurland and real estate member Mark Kanian represented the tenant. Olshan Grundman Frome Rosenzweig & Wolosky partner Thomas Kearns and associate Jessica D. Berets represented the landlord, 460 West 34th Street Associates. “As the rental rates in Manhattan began to drop in late winter and early spring, we were able to identify a number of potential buildings that offered exceptional value,” said Elaine Berg, president and chief executive officer of the network. “The move will allow us to most efficiently further our mission of saving as many lives as possible.” The group’s always-open donor center will be centrally located in the new space, and in close proximity to clinical and hospital support staff. Jim Aranda, chief financial officer of the network said that the new location will accommodate 90 full-time employees and will serve as a hub for about 100 field staff. The move will allow for construction of a larger, state-of-the-art clinical operations unit while providing ample space for public activities, meetings and events. The 20-story building contains 570,000 rentable square feet. Additional tenants include Robert A.M. Stern Architects, and the Young Adult Institute. G.E. Grace & Company Inc. chief executive officer George Grace served as the tenant’s broker. The landlord was served internally by managing partner Edward J. Hart.
InnerWorkings, a print and promotional material provider, has signed a 12-year lease at 1440 Broadway, bringing the building to full occupancy. The 22,760-square-foot lease is for the entire 22nd floor. Asking rents in the building are $50 per square foot. InnerWorkings was represented by general counsel Todd Andrews. Leslie Kanter, of counsel to Davis & Gilbert , represented the landlord, Monday Properties. The tenant has 26 offices in 13 states and the United Kingdom. The move is a consolidation of offices for the tenant, which will relocate from three midtown locations by the fourth quarter of 2009. Craig Panzirer, Monday Properties’ senior vice president and director of leasing, served as the landlord’s broker. Cynthia Wasserberger, Dan McCarthy, Matt Carolan and Ed Ditolla of Jones Lang LaSalle served as the brokers for InnerWorkings. Located at the northeast corner of 40th Street, the building stands at 25 stories and contains 743,000 square feet. Additional tenants include Liz Claiborne, Google and Macy’s, which occupies 105,000 square feet (NYLJ, Oct. 24, 2007).
The Muppets will leave Manhattan this year, as the east coast division of Jim Henson’s Creature Shop has signed a seven-year lease at 37-18 Northern Blvd. in Long Island City. Currently located at 627 Broadway in NoHo, the Jim Henson Company subsidiary provides digital visual effects and animatronic creatures for film and digital media. Caroline G. Harris , partner of the Law Offices of Howard Goldman represented the tenant. Cushman & Wakefield senior director James De Luca served as the broker for the tenant. He said that the unit will have about the same 12,000 square feet of space, but the layout will be more conducive for the Creature Shop’s needs. Mr. De Luca said about 25 to 30 employees will relocate, and that the landlord is building out “new creative and light-filled workspace” that is adjacent to nearby film and television studios, as well as the “advertising and theatrical centers of Manhattan.” “They don’t belong in an office environment. This will be a workshop,” he said. The landlord, Acumen Capital Partners was represented internally. Principals Jeffrey Rosenblum and Ashish Dua served as its brokers. Built in 1919, the seven-story building contains 301,000 square feet and was formerly known as the Standard Motor Products Building. Located at the corner of Steinway Street, the building is currently undergoing a $10 million renovation to its systems and its exterior. Mr. De Luca said average asking rents in the area are in the mid- to high $20 per square foot range.
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