Signature Ptrs. negotiates 8,000 s/f lease on behalf of The Argo Corp.

According to The Argo Corp., a brokerage and hedge fund has signed a 10-year lease at 625 Broadway for an 8,000 s/f penthouse floor that includes partial roof rights. The 12-story loft-style office building in NoHo is owned and managed by The Argo Corp. Representing the landlord for the transaction was Signature Partners, LLC, which negotiated the lease in excess of $60 per s/f. In 2007, The Argo Corporation purchased the former manufacturing warehouse, which spans a full block from Broadway to Mercer, and immediately expanded on a capital improvements program initiated by the previous owner. In addition to comprehensive infrastructure upgrades, the firm is implementing landmark compliant exterior renovations and individual floor renovations. "When we first bought the  property, we embarked upon a building-wide renovation that included infrastructure upgrades of the highest caliber to meet the hi-tech needs of today's businesses. This lease is a clear indication of how well we succeeded," said Mark Moskowitz, president of the full-service real estate firm. 625 Broadway also has 6,500 s/f of street level retail space with entrances on Broadway and Mercer. The broker is Scott Auster of Ripco Real Estate Corp.