News: Brokerage

Keidan of Cresa arranges 5,000 s/f lease for Timberlake Studios

Leslie Keidan

Manhattan, NY Cresa Global Inc. (Cresa) vice president Leslie Keidan has arranged a 10-year lease for a 5,000 s/f workspace at 545 Eighth Ave. for Timberlake Studios, a theatrical costume production company. Founded in 1959 by costume maker Betty Williams, her protégé Sarah Timberlake took over the operation in 1996 and renamed it Timberlake Studios.

Landlord Global Holdings Management Group was represented in-house by Alexander Radmin. Timberlake Studios will be moving to its new workplace on September 1, 2023. The asking rent was in the high $30s per s/f. 

Over the years, Timberlake Studios has created costumes for such Broadway and Off-Broadway productions as Wicked, Cinderella, and The Fantastics. It is additionally recognized for dressing performers at New York City Opera, The Philadelphia Ballet, and Alvin Ailey American Dance Theater, and has even created mannequins’ costumes for Bloomingdale’s holiday window displays.

“Timberlake Studios’ workspace became increasingly inadequate for its operations,” said Keidan. “The new space is not only the right size in a preferred location, but it has also been renovated and the building is working with the company to meet their needs.”

 Timberlake said, “Leslie brought the highest level of knowledge and professionalism to help guide us through this process. We really felt cared for and like somebody was looking out for our requirements. We are excited to be moving into this space to help us grow well into the future.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,