News: Shopping Centers

Adams & Co. renews four contracts totaling 4,246 s/f; signs four new leases

Adams & Co. Real Estate recently brokered the following transactions: At 10 West 33rd St.: * Timi & Leslie signed a five-year lease for 3,078 s/f. David Levy of Adams & Co. represented the landlord while City Sites Commercial Group, LLC represented the tenant. Asking rent was $42 per s/f. * United Footwear Group, Inc. signed a five-year lease for 2,017 s/f. Levy represented the tenant and the landlord. The asking rent was $42 per s/f. At 110 West 40th St.: * Bharat Magdalia signed a five-year, 1,630 s/f renewal lease. Levy and Michael Greenberg of Adams & Co. represented the tenant and landlord. * Media Space Inc., signed a five-year, 1,132 s/f renewal lease. Levy and Greenberg represented the tenant and landlord. * Milton's of New York signed a five-year renewal for 1,058 s/f. Levy and Greenberg represented the tenant and landlord. * Books Crossing Borders, Inc. signed a five-year, 426 s/f renewal. Levy and Greenberg represented the tenant and landlord. At 42 West 39th St.: * Rajco International Inc., signed a 10-year, lease for 5,000 s/f to be used as general and executive offices as well as for showroom purposes. Levy and Jeffrey Schwartz of Adams & Co. represented the landlord, while David Menaged and Jack Senior of Adams & Co. represented the tenant. Though details of the lease were undisclosed, asking rents were $42 per s/f. At 1071 Ave. of the Americas: Rue 21 signed a five-year, 3,793 s/f lease. The new space represents one of the first New York showrooms/offices for the apparel company. Levy and Schwartz represented the landlord, while Allen Gurevitch of Newmark Knight Frank represented the tenant. Though details of the lease were undisclosed, asking rents were $44 per s/f.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.

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