News: Shopping Centers

Buslik of Adams & Co. secure two Manhattan leases totaling 9,474 s/f

Adams & Co. Real Estate has completed two recent leases totaling 9,474 s/f. The firm recently assigned a five-year, 7,200 s/f lease at 148 W. 37th St. to Jones Apparel Group, Inc., which recently formed a joint venture with Rachel Roy. The full-floor, newly-renovated space will continue to serve as Rachel Roy's headquarters and showroom. The joint venture partners plan to further develop and expand the Rachel Roy brand. James Buslik, principal of Adams & Co., represented the tenant and landlord in the transaction. Though details of the lease were undisclosed, the asking price was $36 per s/f. Adams & Co. also brokered a 10-year, 2,274 s/f expansion lease at 231 W. 39th St. for British clothing company, Hudson Clothing, LLC. The growing company more than doubled its original office and showroom space to a total of 4,277 s/f. Hudson Clothing is a contemporary fashion company known for high-end denim styles. The company expanded their showroom space with the launch of a new denim line, "City of Others," which allows customers to donate money to one of three charities with a purchase. Buslik represented both the tenant and landlord in the transaction. While details are undisclosed, the asking rents were $45 per s/f. Adams & Co. Real Estate, LLC is among the top five leasing companies in New York City, as measured by total square feet.  The full-service real estate firm is responsible for millions of square feet of office space and provides property management, brokerage and consulting services throughout Manhattan by teaming experience with innovation.
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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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