Leshowitz, Jacobs and Sattler of Newmark Knight Frank represents Moinian Group in 35,000 s/f; Heller of Cushman & Wakefield acts for tenant, IDB Communications Group

IDB Communications Group, Inc. has renewed its lease for over 35,000 s/f on two levels of the Moinian Group's 90 John St. Adam Leshowitz, Jamie Jacobs and Robert Sattler of Newmark Knight Frank (NKF) represented the owner, The Moinian Group, while Jeffrey Heller of Cushman & Wakefield (C&W) represented the tenant in the transaction. During the late 80s and early 90s, IDB Communications emerged as a rising giant in the telecommunications industry, giving chase to telecommunications heavyweights AT&T Co., MCI Communications Corp., and Sprint Corp. Originally founded as a mobile satellite services company, IDB diversified during the 1980s, branching into several broadcasting niches through its four subsidiaries, IDB Systems, IDB Broadcast, IDB Mobile and IDB WorldCom. Together, these subsidiaries offered a variety of services to international and domestic customers and made IDB a company of special interest to both investors and competitors in the telecommunications industry. "We are proud to continue our longstanding relationship with The Moinian Group and to preserve IDB Communications long-standing status as a primary tenant of 90 John St.," said Leshowitz. "IDB Communications has had a long-term presence in this well-located asset and we are pleased to be able tot arrange their renewed commitment to 90 John St." Located just a few blocks from the South Street Seaport, 90 John St. can be accessed from most major subway lines. The building features a renovated lobby, 24/7 access, an on-site building management office and an in-house parking garage. There's a freight entrance on Platt St. The building can accommodate large floor loads and offers extensive electrical capacities. Communications and other high-tech firms are also attracted to 90 John St. for its connectivity, fiber network and proximity to multiple communications and data networks. "IDB Communications recommitment to 90 John St. reaffirms the building's position as a destination for high-tech and communications companies looking for both convenient access for employees and proximity to high-speed fiber networks," said Kimia Shadrokh, senior associate director of The Moinian Group. "The Moinian Group is delighted that IDB has chosen to remain at this class A downtown Manhattan address." The Moinian Group is widely regarded as one of the industry's most active development firms, boasting a portfolio totaling more than 20 million square feet of commercial, industrial, residential, retail and hotel properties throughout the U.S. and abroad, including 13 million square feet in Manhattan. The company has the most extensive private acquisitions in the country, including trophy buildings like the Downtown Club in Lower Manhattan, formerly known as the Downtown Athletic Club and home to the Heisman Trophy, the Willis Tower in Chicago and Continental Towers at 180 Maiden Lane in Downtown Manhattan. Its team of seasoned professionals, hands-on management style and a strategic approach to investment and growth has armed the firm with the tools necessary to take advantage of the unique opportunities available in the real estate marketplace. ###