Last week, The Real Deal released June’s top 10 office and retail leases in New York City, and Cushman & Wakefield closed the two largest office leases and the fourth and fifth largest retail deals of the month.
The largest office lease of June was NYU Langone Medical Center’s renewal and expansion lease for 630,000 square feet at 1 Park Avenue in the Kips Bay neighborhood of Manhattan. Cushman & Wakefield’s Bruce Mosler represented the tenant, NYU, and the landlord, Vornado Realty Trust, used in-house representation.
The second largest office lease was a 362,000 square foot lease for Discovery Communications at 230 Park Avenue, also known as the The Helmsley Building. This transaction was also spearheaded by a team led by Bruce Mosler, along with Mark Mandell and Ethan Silverstein who represented the landlord. This lease is particularly significant as it is a result of Discovery’s HQ relocation from Silver Springs, MD to New York City.
In retail, a team of Adam Spies, Kevin Donner and Hall Oster represented American Multi-Cinema (AMC) in their sale and lease-back of 2318 Broadway on the Upper West Side. The landlord, Ashkenazy Acquisition Corp. is paying $53 million to AMC for the roughly 43,000 square foot property, and Ashkenazy will lease the space back to AMC for 15 years, with an option to extend. This deal came in as the fourth largest retail leasing transaction in June.
Lastly, the fifth largest retail lease was Brandon Singer’s 14,707 square foot lease for Showfield’s at 11 Bond Street in the NoHo neighborhood of Manhattan. The new direct-to-consumer retail outlet will take the entire five-story building for their New York flagship.