News:
Brokerage
Posted: October 10, 2008
Horowitz of Kaufman reps. tenant, Snap-On Smile, in 8,200 s/f lease
The Kaufman Organization recently brokered a five-year lease for Snap-On Smile. According to Marc Horowitz of the Kaufman Organization, who represented the tenant, the company signed a lease for 8,200 s/f of office space, an entire floor at 462 Seventh Ave. Michael Liss of CBRE represented the landlord.
"Snap-On Smile wanted to be in the center of commerce for its first office space in Manhattan," said Horowitz. "462 Seventh Ave. is the perfect destination for companies seeking a high-volume of traffic."
Adam Cotumaccio, president and CEO of Snap-On Smile said, "We are thrilled to be moving our corporate offices into Manhattan. The Kaufman Organization has been a true partner in helping us achieve this goal."
The 23-story building, located in the Penn-Plaza District features a 24/7 access and security. Tenants include Simmons Jewelry, Brylane Inc. and Geller & Wind, Ltd.
Tags:
Brokerage
MORE FROM Brokerage
SABRE coordinates sale of six properties totaling 199,845 s/f
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
.jpg)
Quick Hits
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
.gif)