Press Release, 2008-03-03
by Colliers ABR, Inc.
New York, NY
Manhattan's Radio Wave Building
Colliers ABR Represents Magnolia Films, Pedone & Partners, Strategic Marketing Group and Chadwick Communications in Four Separate Deals
NEW YORK, February 29, 2008- Colliers ABR, Inc., a leading full service commercial real estate services firm, announced today that Magnolia Films has expanded to 8,700 square feet; Pedone & Partners has leased 8,700 square feet; Strategic Marketing Group has leased 8,700 square feet; and Chadwick Communications renewed for 4,600 square feet of space in the Radio Wave Building at 49 W. 27th St. in Manhattan.
“We were happy to successfully negotiate all four deals for Magnolia Films, Pedone & Partners, Strategic Marketing Group and Chadwick Communications,” said Mark Furst, Managing Director with Colliers ABR. “We are pleased that we were able to fit the needs of all four companies and find affordable space in such a charming building.”
Constructed in 1890 as the Gerlach Hotel, the 11-story building was named after former resident Nikola Tesla, the scientist responsible for inventing alternating current, the method of delivering electricity and the Tesla high-frequency coil.
Mr. Furst added, “With approximately 8,700 square feet of space remaining on the mezzanine floor which has 14 foot ceilings, this property continues to be a very popular and attractive destination for creative tenants.”
The vacancies were created via the acquisition of MediaVast by Getty Images, which bought out of their lease a year early. Mark Furst of Colliers ABR, represented the landlord, Chestnut Holdings, in the transactions.
Benjamin Waller of ABS Partners represented Strategic Marketing Group; Gabe Whitman of Buchbinder & Warren LLC represented Pedone & Partners; Mark Furst of Colliers ABR represented the landlord for the Magnolia Films and Chadwick Communications transactions.
Asking rents at 49 W. 27th St. are in the mid-40s.
About Colliers International
Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.
Contact Information
40 East 52nd Street
New York, NY 10022
Tel: 212-758-0800
Fax: 212-758-6190
 back to top
|