Lease of the Week

Starrett-Lehigh Building. (Courtesy Property Shark)

“The Most Complicated Deal I Personally Have Handled.”

It’s not uncommon to hear Manhattan’s real estate market characterized as sophisticated or complex.

Not every day, however, does a requirement as straightforward as Dentsu McGarryBowen’s uncork such an elaborate and interconnected series of transactions as it did at the Starrett-Lehigh Building.

A longtime tenant in the 2.3-million-square-foot building and one of the property’s largest users, the advertising firm needed to expand. But there was a small problem: Despite its size, the building—an artsy, far West Side location popular among creative tenants—had virtually no available space. Read More

The Lease Beat

The Falcon lands at 660 Madison Avenue. (Courtesy Property Shark)

EXCLUSIVE: New Hedge Signs 9,000 SF–And it Hasn’t Even Launched Yet.

Falcon Edge Capital, a soon to be launched hedge fund, is taking almost 9,000 square feet at the high-end office building 660 Madison Avenue.

The firm, which will begin operations in 2012 according to reports, was formed by celebrated young investment professionals Rick Gerson, formerly of the major firm Blue Ridge and Navroz Udwadia or the well known investment company Eton Park Capital Management. Read More