News: Brokerage

Someck and Myers of Lee & Associates NYC broker 11,000 s/f for Ceros at 40 West 25th St.; Kotcher and Plesser of Brickman Associates act for landlord

Dennis Someck,
Lee & Associates NYC LLC

 

Justin Myers,
Lee & Associates NYC LLC

 

Manhattan, NY Dennis Someck, principal and executive managing director, and Justin Myers, managing director and principal of Lee & Associates NYC LLC have arranged a 10-year lease for Ceros at 40 West 25th St. The interactive content marketing platform will double its space with a new 11,000 s/f office on the entire 12th floor, which will include its own dedicated outdoor roof deck space. 

The building is located near Madison Square Park, and fellow tenants include meal kit service Hello Fresh and fashion designer Reed Krakoff.

“The landlord provided an attractive concession package that has allowed Ceros to construct a gorgeous, creative space in the heart of NoMad,” said Someck, who represented the tenant with Myers. “The building is extremely well-located, which will allow Ceros to attract and retain talent.”

Ceros will move to its new office from 151 West 25th St. in May 2017. Upon its departure, search intelligence firm Captify Technologies will move into the original Ceros space. Messrs. Someck and Myers arranged this sublease as well.

“These transactions are a testament to the continued strength of the NoMad market, not to mention its allure for TAMI firms,” said Myers.

Paul Kotcher and Jordan Plesser of Brickman Associates represented the landlord. Asking rent was $65 per s/f.

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
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.