July 3, 2019 – Peter Braus, Managing Principal, and Dennis Someck, Executive Managing Director/Principal, of Lee & Associates NYC have arranged four leases at 875 Sixth Avenue, between West 31st and West 32nd Streets. Cambridge Insurance Advisors will be moving within the building from a 2,941-square-foot space on the eighth floor to a 3,809-square-foot space on the tenth floor. The lease term is five years. Commonwealth Toy & Novelty Co. will be moving to a 1,481-square-foot space on the seventeenth floor. The lease term is three years. Chief Media has renewed its 6,992-square-foot lease on the eleventh floor for three years. Florentine Films has renewed its 1,596-square-foot lease on the eighteenth floor for five years. The property owner, Old 875 LLC and New 875 LLC, is a division of Lee & Associates NYC.
“There has been overwhelming interest in the centrally located property at 875 Sixth Avenue over the past few months, whether that’s from existing tenants who would like to expand within the building, those who are happy with their current space and want to secure it for the coming years, or tenants who are completely new to the building,” says Braus, who represented the tenants at 875 Sixth Avenue, along with Someck. “Midtown South is becoming increasingly popular with office tenants across industries and the recent renovations at this building have certainly boosted leasing activity.”
Cambridge Insurance Advisors offers employee benefit solutions, human resources support and private client insurance. In this transaction, the property owner was represented by Michael Kaufman of the Kaufman Organization. The company will move to the tenth floor in September 2019. Commonwealth Toy & Novelty Co. is a children’s toy designer, manufacturer and marketer. The building owner was represented by Barry Goodman of Newmark Knight Frank in this transaction. Chief Media is a direct response marketing company that uses pioneering technology to pinpoint media response behavior and accurately measure ROI. In this transaction, the building owner was represented by Peter Occhi of Cushman & Wakefield. Florentine Films is a documentary production company whose esteemed members include Ken Burns, Roger Sherman, Buddy Squires and Larry Hott. Lee NYC’s Braus and Someck represented both the tenant and the owner in this transaction.
875 Sixth Avenue has been recently renovated and now boasts an updated lobby as well as new elevators and windows. The storefronts will be completely redone by the end of the year. Braus and Someck have also just brought to market the entire 22nd floor of the building, which is 7,083 square feet and features a stunning wraparound terrace with sweeping city views.