Spin magazine — like Omnicom and American Lawyer magazine before it — is moving downtown.
The music magazine has just signed a lease for 14,300 square feet at 408 Broadway, near the corner of Lispenard Street. The magazine is trading up from the 12,000 square feet it now occupies at 205 Lexington Avenue, between 32nd and 33rd streets.
“Spin was looking for space to grow, and was attracted to the building’s old-school, loft atmosphere, which includes high ceilings and narrow, cast-iron columns,” said CBRE broker Derrick Ades in a statement.
Mr. Ades worked with brokers Matthew Bergey and Brian Feil on the deal. Cushman & Wakefield’s Phil Amarante represented the mag.
The full release is below.
CB RICHARD ELLIS SPINS MUSIC MAGAZINE INTO LOFT SPACE
New York, NY – July 31, 2008 – CB Richard Ellis announced today that it arranged 10-year, 14,300-square-foot lease at 408 Broadway on behalf of the landlord, Vanick Properties Inc. Spin Magazine will occupy the entire 4th floor when it occupies the space later this year.
“Spin was looking for space to grow, and was attracted to the building’s old-school, loft atmosphere, which includes high ceilings and narrow, cast-iron columns,” said Derrick Ades, senior vice president, CBRE, who arranged the deal with Matthew Bergey, senior associate, and Brian Feil, associate.
Spin is the building’s first new tenant since Vanick, which acquired 408 Broadway earlier this year, upgraded the lobby, bathrooms and air-conditioning. Located just below Canal Street, the five-story loft building also has 10,000 sf of retail space available for lease.
Philip Amarante, of Cushman & Wakefield, represented Spin, which is relocating from 215 Lexington Avenue at 33rd St.
You may find this and other CBRE New York Tri-State Region Communications and Research information at http://www.cbre.com/