WINOKER REALTY NEGOTIATES MORE THAN 21,000 SF OF OFFICE LEASES AT 276 FIFTH AVENUE
New York, NY: Manhattan-based commercial real estate firm Winoker Realty Company has negotiated seven individual office leases representing a combined 21,055square feet of space within 276 Fifth Avenue in Manhattan's Chelsea district.
Elliot Klein, senior vice president at Winoker Realty Company, exclusively represented the building’s owner, 276 Managers LLC, on all of the signings. Klein also represented several of the tenants involved in these deals.
“276 Fifth Avenue benefits from 21st century amenities and mechanicals,” said Mr. Klein. “All of the elevators and bathrooms were recently restored, and the office suites were upgraded to tenant-specified improvements to give users all the modern advantages in a highly elegant setting. In addition to the property’s excellent location, these were strong selling points for all of these tenants.”
The single largest lease was signed by Internet firm Hulu, which expanded from 2,110 square feet to 5,284 square feet of fifth-floor space. Robert Waller and Jason Frazier of CB Richard Ellis represented Hulu on the five-year transaction.
The second-largest lease -- a 4,161-square-foot office suite on the ninth floor -- was signed by Winston Retail Solution, an executive search firm. Ilyssa Rothfeld of PBS Real Estate represented the tenant on this five-year leasing transaction.
The balance of the leasing campaign consisted of the following deals:
- Artist Ltd. signed a 3,092-square-foot lease for five years on the sixth floor. The tenant, who works in the intellectual property industry, takes occupancy of the space in March 2010. Neil J. Lerner & Co. represented Artist Ltd. on the lease.
- Lorsa, Inc. signed a 3,254-square-foot lease for five years on the fourth floor. The tenant, a law firm, will take occupancy of the space in February. Mr. Klein represented the tenant and the landlord.
- Ther-Ex Unlimited, a physical therapy provider, signed a 2,002-square-foot lease for five years on the second floor. Prime Manhattan Realty represented the tenant on this transaction.
- Joseph Flischer, a hair restoration firm, signed a 1,793-square-foot lease for five years on the third floor.
- MinLeah Associates, a law firm, signed a 1,468-square-foot lease for three years on the fourth floor. Mr. Klein represented the tenant and the landlord.
More leasing deals will likely be announced in coming weeks, according to Mr. Klein, noting that 276 Fifth Avenue offers work space that is ideally suited for smaller office tenants. The building’s current roster of occupants encompasses a variety of business types ranging from publishing and law firms to technology and financial firms. In addition, the building's location makes it attractive to a wide spectrum of users.
Constructed in 1891, 276 Fifth Avenue is situated on Fifth Avenue along the edge of the Chelsea district. The 11-story building comprises 199,578 square feet of rentable space.