L&L Holding Company has finalized a 15-year, 41,982 s/f lease for book publisher Abrams Publishing at 195 Broadway.
The new lease encompasses the entire 9th floor of the property. The company – which publishes a variety of books, gift and paper products – expects to relocate from 115 West 18th Street in the third quarter of 2017. The space will house Abrams’ entire New York staff.
Abrams will benefit from a number of new amenities and capital improvements to the landmarked property, highlighted by the $50 million redevelopment of the building’s historic Broadway lobby.
The newly completed, nearly 50,000 s/f of high-end retail space has transformed the Broadway blockfront between Fulton and Dey Streets. The retail atrium includes 40-foot tall glass partitions and a galleria pass-through connecting the three stores to the streetscape and to the building’s tenant lobby.
New retail tenants include Japanese restaurant Nobu and fashion brand Anthropologie, which are both expected to open in early 2017.
“We are very excited to welcome Abrams Publishing to our prestigious tenant roster at 195 Broadway,” stated L&L Holding Company chairman and CEO, David Levinson.
“Abrams’ selection is a testament to our successful lobby redevelopment. The combination of its outstanding downtown location, building quality and our dynamic retail mix has made it a top choice for tenants in lower Manhattan.”
Mark Mandell and Dan D’Agnes of Cushman & Wakefield represented the tenant in the long-term transaction, while Andrew Wiener, Vice President and Director of Leasing at L&L Holding Company, represented ownership in-house. Asking rents were $59 per square foot.
According to Wiener, the new lease for Abrams continues a period of successful leasing activity at 195 Broadway.
Since the end of 2015, L&L Holding has completed more than 251,892 square feet of new office leases at the building, including technology company Rocket Fuel, human resources firm, Namely and global fashion brand, Gucci.
Major tenants at 195 Broadway – the former world headquarters of AT&T – include Omnicom, HarperCollins Publishers and XO Group.
195 Broadway is owned in partnership by L&L Holding Company, LLC and JP Morgan Investment Management.
Abrams Publishing takes full floor at 195 Broadway in FiDi : Real Estate Weekly