WEDNESDAY, FEBRUARY 03, 2010
Eagle has Landed in SoHo Space
Eagle has Landed in Soho Space, by Lois Weiss.
Popular teen clothier American Eagle is moving its nest in SoHo into a bigger and more prominent space.
After company executives' eyes bulged at the numbers from the retailer's Times Square store, they decided location matters and signed for 20,000 square feet at 599 Broadway on the southeast corner of Houston Street.
Sources said the deal will include signage along with spacious digs in the basement, and first and second floors.
The 15-year pact, worth over $120 million, pegs the rent in the high $500s for the 7,000-foot ground floor.
Retail deal maestro Jeff Sutton, who owns that space himself and the one in Times Square where SL Green Realty is a minority partner, handled the transaction with no other brokers. He declined comment.
With Meatpacking District retailers pumped by High Line Park visitors spilling into the selling street, Levi's has decided to join the party.
The original jeans company leased 2,616 feet on the ground floor and the 2,000-foot lower level at 414 W. 14th St., a fully rehabbed historic structure. The asking rent for the ground was $400 a foot and the 10-year deal has a five-year option. The store will open this fall.
Laura Pomerantz at PBS Real Estate repped the retailer as well as the building, which is owned by The Carlyle Group and Sitt Asset Management.
"It's edgy and trendy," said Pomerantz. "They will have the various different models and fits and will also have the ability to customize them to the customer."
MetLife is giving the leasing nod to Jones Lang LaSalle for the 1.037 million-foot 85 Broad St., which will be empty when Goldman Sachs moves into its new headquarters at the World Financial Center.
"We haven't officially heard, but expect [Goldman] to be out by the middle of 2010," said Peter Riguardi, president of JLL, who will handle the leasing along with Frank Doyle. "We are in the process of determining our pricing and have shown the building a half-dozen times."
Riguardi said interest is coming from the worlds of insurance, law, finance and communications, and both from Midtown and downtown.
"There is a tremendous amount of infrastructure and amenities left behind because it was Goldman's," Riguardi added.
Meanwhile, Goldman's space at One New York Plaza, which is also being abandoned by the investment bank, will be handled internally by its owners, Brookfield Properties.
Brookfield is also busy negotiating with its tenant Deloitte, whose lease will be up at 2 World Financial Center, in hopes of expanding them into Merrill Lynch space.
But sources said the Deloitte talks are getting serious at a number of other city locations.
A Cushman & Wakefield team is leading that search and wouldn't comment.
As we previously told you, JPMorgan Chase is leasing back 75 percent of 4 New York Plaza from the Harbor Group for the next 15 years.
New documents reveal the wily bankers have three, eight-year extensions at their option.
Similarly, at 349 Fifth, which Chase sold to Dario Zar for $18.3 million, the bankers have a 20-year lease with four- and 10-year options for the ground and second floor for their bank.
Now, Danielle Zimbaro, Josh Goldman and David Berke of Cushman & Wakefield are offering the entire third through eighth floors, each totaling 7,000 square feet, with an asking rent in the low $40s a foot.
Cushman & Wakefield hired its first outside CEO yesterday, Glenn Rufrano of Centro Properties, who will start March 22.
The institutionally tempered Rufrano co-founded O'Connor Capital before going on to New Plan Excel Realty Trust.
He's been with Centro in Australia for the last two years and wanted to come back to the US.
Nat Rockett at Jones Lang LaSalle's capital group is offering the two-story Citibank building at 1042 Madison Ave. between E. 79th and 80th streets.
Originally in the DiLorenzo portfolio, Emmes is now selling the 33-footer where Citibank signed a lease at the top of the market in 2008.
Sources are talking north of $30 million with a 6 percent capitalization rate.
Billy Macklowe has truly taken over the Macklowe organization.
Sources tell us it was Billy alone who orchestrated the sale of the company's three residential towers to Sam Zell for $475 million, as The Post reported last week.
He started going directly to bidders, including Ofer Yardeni's Stonehenge Partners, in December with the primary driver being a loan coming due on one of the newer towers.
ed a significant re duction in Mack lowe's New York holdings, and now it would seem that Macklowe is selling assets to Zell's [Equity Residential] to generate liquidity."