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Firm inks 3 direct deals, 2 expansions, totaling 30,383 SF, at Class A, 190,000-SF commercial office building
NEW YORK, June 26, 2013 — Jones Lang LaSalle has completed three new, direct deals and two expansions, totaling 30,383 square feet of commercial office space, for Brause Realty Inc. at 52 Vanderbilt Avenue. SocialFlow and AdLarge Media LLC each signed for full floors of 9,275 square feet and The Coalition for Rainforest Nations leased 2,558 square feet. U.S. International Media expanded to 5,478 square feet and Cypress Associates LLC expanded to 3,797 square feet at the 190,000-square-foot, Class A office building.
The building owner, Brause Realty, was represented in all five transactions by Lloyd Desatnick, senior vice president, along with Frank Doyle, vice chairman, and Alexis Tener Petrus, vice president, all with JLL. The group worked closely with Melissa Brause Rackoff, vice president, and David Brause, president, of Brause Realty.
“JLL worked alongside Brause Realty to market the many distinctive features of 52 Vanderbilt Avenue to a wide range of space users,” said Desatnick. “The building’s new and existing tenants were attracted by its classic design, terrific amenities and direct access into Grand Central Terminal.”
"We are very pleased to have two of our valued tenants, Cypress & USIM, expand at our headquarters building,” said David Brause. “We are also excited to welcome AdLarge Media, SocialFlow and The Coalition for Rainforest Nations. JLL has done a great job of marketing the full array of up-to-date amenities that our boutique building has to offer."
SocialFlow signed a long-term year lease for 9,275 square feet and will occupy the entire 12th floor at 52 Vanderbilt Avenue, which is located between East 44th and East 45th streets. The social media marketing company is relocating to the building from its previous offices at 2 Grand Central Tower. SocialFlow was represented by Jeffrey Peck, senior managing director; Nicholas Farmakis, managing director; and Gary Kerper, associate director, all with Studley Inc.AdLarge Media inked a long-term lease for 9,275 square feet and will occupy the entire seventh floor at 52 Vanderbilt Avenue. The media sales company is relocating to the building from its previous offices at 475 Park Avenue South. AdLarge Media was represented by Craig Berman, vice president, with Joseph P. Day Realty Corp.The Coalition for Rainforest Nations signed a lease for 2,558 square feet and will occupy a portion of the 14th floor at 52 Vanderbilt Avenue. The organization is relocating to the building from its previous offices at 370 Lexington Avenue. The Coalition for Rainforest Nations was represented by Philip Gardiner, partner, with Vicus Partners.
U.S. International Media completed a lease to expand its occupancy to 5,478 square feet, from 4,363 square feet, on a portion of the fifth floor at the building. USIM was represented by Hunter Duncan, associate vice president, with DTZ.
Cypress Associates inked a lease to expand its occupancy to 3,797 square feet and will occupy a portion of the fifth floor at the building. Cypress Associates was represented by Desatnick, Doyle and Tener Petrus.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.
About Brause Realty Inc.Founded in 1927, Brause Realty Inc. is a family-owned company specializing in the long-term ownership, management and development of high-quality, well-located commercial real estate assets. Brause Realty owns and manages a portfolio of approximately three million square feet in the New York region, including: 52 Vanderbilt Avenue, 320 Fifth Avenue, 41 Union Square, 254 West 31st Street, 10 East 34th Street, 141 West 36th Street, and 21 West 38th Street, New York City; One MetLife Plaza, Long Island City, NY; and Congress Park Centre, Saratoga Springs, NY. See www.BrauseRealty.com for more information.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
George Shea, Mark Faris - Shea Communications