Commercial Real Estate & Advisory
Commercial Real Estate & Advisory
In February, three financial related firms have found new headquarters in the heart of SoHo, in separate transactions done by Christopher Owles, Managing Director at Sinvin Realty Corp.
One of the country’s largest real-time database subscriber networks, Money.net, whose customers include the Nasdaq Stock Market, Ameritrade, The Street.com, Legg Mason and Earthlink is relocating to a boutique office building at 155 Spring Street. The company is subletting 3,400-sq. ft. on the third floor from 5S, a division of Shiseido, until May 31, 2009. Owles represented the sub-landlord, Shiseido, in the transaction. The terms of the lease are undisclosed, but the asking price for the space was $42 per sq. ft. The New York-based company was formerly located at 30 East 23rd Street.
Shiseido built out the office but never occupied it. The space features a dramatic glass entrance off the elevator, a reception area, oversized private offices, a full kitchen, and built-in open workstations.
Money.net provides professional grade streaming real-time market data direct to individual investors through its website and to financial institutions through licensing agreements and customized software systems. Randy Kornblatt of Spaceworks Real Estate represented the tenant in the transaction.
In the second tranaction, United Kingdom-based brokerage company Linkbrokers Derivatives Corporation recently signed a lease for its first-ever U.S. headquarters at 120 Wooster Street. According to Owles, who represented the landlord, 120 Wooster LLC, the company signed a two-year lease for 2,300 sq. ft., part of the fifth floor. The space was formerly occupied by The Bohen Foundation. The terms of the lease are undisclosed, but the asking price for the space was $42 per sq. ft.
Since incorporation in 1998, LinkBrokers Derivatives Corporation has become a leading provider of market prices to corporate clients in the equities, energy and fixed income markets in the U.K.
In another transaction at 120 Wooster, a new venture company, BF Capital Partners is leasing 1,900-sq. ft. of space on the fourth floor for 18 months. BF Capital is an investment banking and financial advisory firm formed in September 2002, focused on providing financial advisory services to corporate clients, including in connection with mergers and aquisitions, capital restructuring and capital raising. The principals of BF Capital are S. Quintus von Bonin and Ferit Ferhangil.
The terms of the lease are undisclosed, but the asking price for the space was $42 per sq. ft. Susan Needles of Sinvin Realty represented the company’s partners in the transaction.
Both companies are taking advantage of this historic six-story loft building, which is considered one of SoHo’s premier office buidlings. The space features exposed wood beams, exposed brick walls, hardwood floors, good east and north light, a private bathroom and kitchen. LinkBrokers plan to create private offices and trading floor. John A. Johnson, Jr., of Julien J. Studley, Inc., represented the tenant in the transaction.
“All of these young companies were looking for a hip, cutting-edge neighborhood with a stylish European feel,” said Owles. “Traditionally, financial companies are located in midtown, but we were able to find both companies great spaces at a reasonable price in SoHo.”