Trend designer Alexander Wang has signed a 15-calendar year, 46,000-sq.-foot lease at the Fulton Sector Building in Decreased Manhattan. The organization will relocate its headquarters from 386 Broadway in Soho to occupy the whole top flooring of the historic Seaport building in 2023.
Sean Black from BLACKre assisted the tenant, whilst a CBRE team represented the landlord, The Howard Hughes Corp.
Positioned at 11 Fulton St. in Manhattan’s Monetary District, Fulton Current market Making is a 128,123-square-foot home that came on-line in 1983 and was renovated by HHC in 2015. The style company’s leased space, showcasing 20-foot ceilings and a 5,000-sq.-foot patio, will be home to personnel offices and a showroom.
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Alexander Wang’s lease brought the Fulton Current market Developing to whole occupancy, though The Seaport grew to become 68 per cent leased. Other notable tenants in the community incorporate iPic, ESPN and Nike’s artistic studio.
The property is some 7 miles from downtown Manhattan throughout from South Avenue Seaport Museum and in going for walks length of Pier 17, an additional HHC residence. The place is also near to 250 H2o St., exactly where the developer ideas to make a mixed-use tower showcasing luxurious residences, business office and business space.
CBRE’s Mary Ann Tighe, Gerry Miovski, Brett Shannon, Zac Price tag and Masha Dudelzak represented HHC.
Business office leases throughout Manhattan
According to CommercialEdge knowledge, Manhattan experienced a 13.9 percent vacancy amount as of June, 320 foundation details larger yr-about-12 months. Yet, the borough has witnessed numerous critical leases in the final six months. One particular standout deal shut in May, when economic providers large Macquarie Group leased 221,764 sq. feet across 6 floors at 660 Fifth Ave. for its new Americas regional headquarters.
In a more modern transaction, The Durst Business landed a new tenant at One particular 5 One particular, the 48-tale office tower at 151 W. 42nd St. Chicago Trading Co. signed a 15-calendar year lease for 68,339 square toes and will occupy the building’s 36th and 37th flooring.