Managing director Arthur Spitalnick of the Kaufman Organization, which specializes in leasing and managing premier office space in New York City, recently brokered two deals totaling 13,396 s/f in the Garment District and Lower Manhattan.
"Finding the perfect space in the current New York City real estate market has become an art form. As neighborhoods change and client needs adapt, so must good brokers and landlords," said Spitalnick. "Both deals reflect how all parties came together to find the perfect fit for Lu Thai Textile and MetroLoft Management."
* Lu Thai Textile is a major publicly traded company based in Shanghai. The Chinese men's shirt manufacturer and vertical textile mill reported more than $1 billion in global sales last year and counts Brooks Brothers as one of its largest customers in the United States. The company's requirements for a new office included space in a renowned central location, close to mass transportation. Lu Thai Textile signed a signed a seven-year, 3,771 s/f lease at 1450 Broadway, in the heart of Times Square, for full-floor space that offers four exposures. The new location will house offices and serve as the company's first showroom in the U.S. Although terms of the lease are undisclosed, the asking rent was $70 per s/f. Spitalnick represented the tenant and Mitch Konsker, Jonathan Fanuzzi and Benjamin Bass of Jones Lang Lasalle represented the landlord, the ZAR Group.
* MetroLoft Management is a real estate development and management company that specializes in converting commercial office buildings to luxury residential towers. The firm is the largest residential manager in Downtown Manhattan with more than three million square feet of property in the area. The company has converted some of the Financial District's most well-known buildings, like 20 Exchange Place and 63 Wall Street. MetroLoft Management signed a four-year, 9,625 s/f sub-lease at 5 Hanover Square. The space is fully furnished and features private offices and conference rooms. Although terms of the lease are undisclosed, the asking rent was $32 per s/f. Spitalnick represented the sub-landlord, the Boys and Girls Club of America and Philip Metzidakis of The Jansizian Group represented the tenant. Tags: