Adams & Co. Real Estate, a Manhattan-based full-service commercial brokerage firm, recently completed leases totaling 50,631 square feet along the West 23rd Street corridor in Manhattan’s Flatiron District. Tiffany & Company, the world-renowned jeweler, 4K Media, a subsidiary of Konami Digital Entertainment that manages the Yu-Gi-Oh! And Rebecca bonbon brands, 3Q Digital, a digital marketing firm, and Ability Insurance and Advantage Capital all signed full-floor leases at interconnected buildings on 23rd Street.
Jim Buslik, Alan Bonett and Bradley Cohn of Adams & Co. represented the landlord, Twenty Three R.P. Associates, in the following transactions:
- Tiffany & Company signed a 16,909-square-foot lease for the entire seventh floor at 53 West 23rd Street. Tiffany will utilize its floor as office space for company executives, designers and administrative employees. Greg Taubin of Savills Studley represented Tiffany & Company in the deal. Asking rent was $66 per square foot.
- 4K Media signed a 16,909-square-foot lease for the entire 11th floor at 53 West 23rd Street and a 5,594-square-foot lease for the 11th floor at 49 West 23rd Street. The interconnected offices at West 23rd Street will house 4K Media’s productions facilities. Joel Wechsler of CBRE represented 4K Media in the transaction. Asking rent was $66 per square foot.
- 3Q Digital signed a 5,625-squre-foot lease for the entire 10th floor at 30 West 24th Street. Dan Katcher od Newmark Knight Frank represented 3Q digital in the transaction. Asking rent was $60 per square foot.
- Ability Insurance and Advantage Capital Holdings signed a 5,594-square-foot lease for the entire eighth floor at 49 West 23rd Street.Dennis Someckof Lee & Associates represented Ability Insurance and Advantage Capital in the transaction. Asking rent was $62 per square foot.
“These 23rd Street properties benefit from a superb location in the heart of New York City and boast modern features, like a newly renovated lobby, modernized elevators and an updated state-of-the-art security system. The updates the landlord made at these buildings attracted Tiffany & Co. and 4K Media and also helped lease a total of 120,000 square feet at the properties over the past 12 months,” said Buslik, a principal at Adams & Co. “Additionally, the vast amount of nearby transit options will make it easy for Tiffany’s employees to travel up to its flagship store on Fifth Avenue and 57th Street; the corporate HQ is also only a short walk away. For 4K Media, it was important for its headquarters to be near similar companies and in close proximity to mass transit options that grant easy access to the area’s international airports.”
49 and 53 West 23rd Street sit between Fifth and Sixth Avenues and were constructed in 1916 and 1915, respectively. 49 West 23rd Streets spans 65,534 square feet, while 53 West 23rd Street spans 274,116 square feet. These buildings, along with 30 West 24th Street, a 71,037-square-foot building, are interconnected with breakthroughs from one building to the next, creating single floor plates as large as 28,000 square feet. All three properties feature 24/7 access, on-site security, a lobby attendant and multiple fiber optic providers. The buildings are Iess than a block away from Madison Square Park and are a short walk to the F, M, R and W subway lines and the 23rd Street Path station. Other tenants at the buildings include P.C. Richard & Son, WB Mason and Saks, Inc.
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