NASDAQ listed Seven Stars Cloud Group (SSC) has signed a seven-year lease for the entire 19th floor at 55 Broadway with an option to acquire the 18th floor. The firm consolidated several temporary offices to establish their Lower Manhattan headquarters. The landlord is building out the premises on behalf of the tenant. Alan Rosinsky of Metro Manhattan Office Space represented Seven Stars Cloud Group. The landlord was represented by CBRE.  55 Broadway is a 1982 Class A office building. It is located in the heart of the Financial District off Trinity Place. The building is occupied by such other tenant’s as GSA Group, Cancer Research Foundation and Security Mutual Life Insurance. Metro Manhattan worked closely with Seven Stars President Bob… Continue reading

Posted in Notable Leases.
Limited Availability for New York City Medical Space

The dynamics of the New York City real estate market provides for an ever-changing landscape. At the retail level, all-time delis and coffee shops have become obsolete as trendy soup and salad bars and upscale bistros and restaurants are ushered in.  The traditional Manhattan office space once dominated by accounting, legal and management firms have been grudgingly giving way to the new era of technology start-ups and creative marketing companies, whose dominance in the hot Chelsea and Flatiron districts have been clearly felt. And what about the New York City medical office space market? Does the word dinosaur come to mind? Manhattan has never really been known for having an abundance of buildings dedicated to medical practices. For many years, medical… Continue reading

Posted in Uncategorized.

Over the last five years, backed by the mega-billion private equity investment industry, “tech” firms have swarmed into what was a relatively quiet and benign district of the city, Chelsea, and to some extent, its immediate neighbor, Flatiron. This section of the city, rich in boutique and loft-style buildings, is a perfect marriage for all the “up and comers” infiltrating the tech industry. And it is not only the buildings, themselves, that present such an attraction to these twenty to forty-year-old “techies”; the commercial spaces within these structures totally lend themselves to the mood and concept of this breakout industry. To be more specific, the typical space found in this market is a combination of high exposed ceilings, wood or… Continue reading

Posted in Manhattan Office SpaceMidtown SouthNYC office space.

People who are in the market for a new commercial space for their business, be it a retail enterprise, a medical practice, a fashion showroom, a loft style studio or a traditional office space always have the choice of working with either leasing agents of individual buildings or independent real estate brokers. The only advantage of working directly with the individual leasing agent of a particular building is that the agent has an intimate knowledge of both the landlord and the characteristics of that building. The advantage of working with the independent broker is multi-fold and is as follows…. 1) The broker is quite capable of learning about all the relevant characteristics of any commercial building and explaining in detail… Continue reading

Posted in Brokers & Other Real Estate ProfessionalsNYC office space.

Unlike most areas of the country, in Manhattan commercial landlords employ the concept of renting “rentable” square feet when they lease a space, be it office space, retail space, medical space, showroom or loft space. To understand this concept more clearly one needs to recognize the premise that a landlord always wants to rent every square foot of space in his building. Naturally, this is not possible from a physical standpoint since designated common areas of the building, such as public bathrooms, stairwells, elevator shafts, mechanical rooms, common corridors on divided floors, etc are meant for all tenant’s use and therefore cannot be leased to individual tenants. Hence the landlord apportions a percentage of the common areas to each tenant… Continue reading

Posted in Manhattan Office Space.