Quarto Publishing Group leases 7,910 s/f at Herald Square Properties and The Davis Companies 142 West 36th Street
The U.S. division of British publishing and distribution group, Quarto Publishing Group USA has signed a 10-year lease for the entire fourth floor at 142 West 36th St., comprising 7,910 s/f of pre-built space designed by the Mufson Partnership. Quarto specializes in illustrated 142W36 c Richard Lewin sm.JPGbooks and currently has 15 imprints in the U.S., including Cool Springs Press, QDS, Rockport Publishers and Zenith Press.
The new lease represents the fourth TAMI tenant to move into the Midtown building since its purchase less than a year ago by Herald Square Properties and The Davis Companies, joining View the Space, Elite SEM and Flashtalking. Another recent tenant- and category leader in a different sector -- is I. Buss & Allan Uniform Company.
"This is yet another lease that supports our goal to reposition 142 West 36th Street as a TAMI center in Midtown Manhattan," points out Gerard Nocera, Principal, Herald Square Properties. "Our very first improvements were infrastructure upgrades and a lobby renovation. But a central location, great floor plate, abundance of natural light and strong leasing team are really making the difference."
Exclusively representing the landlords were CBRE's Paul Amrich, Vice Chairman; Neil King, Vice President; and Lindsay Goddard, Associate Broker. Representing the tenant was Owen Hane, Executive Director, Cushman & Wakefield.
Quarto Publishing Group will be relocating from 276 Fifth Avenue in spring 2015.
The property was acquired in January 2014 in an off-market sale. Located between Broadway and Seventh Avenue, the 116,000-square-foot, circa 1921 office tower has 17 floors. In addition to its convenient location, 142 West 36th Street benefits from exceptionally high ceilings with great light and air. Asking rents are between $58 and $60 per square foot.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
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