You know things are slow in the commercial real estate world when the Moinian Group sends out a press release touting a mere 52,115 square feet in leases. And, they’re renewals!
Where oh where are the big deals?
Alas, the days are gone when news of little deals ended up in the trashbin.
And so, without further ado, the release:
FOR IMMEDIATE RELEASE
MOINIAN GROUP LEASES 52,115 SF IN MANHATTAN
(New York, NY—April 28, 2008) — The Moinian Group, an owner of more than 20 million square feet of office, residential, retail and hotel properties throughout the U.S. and abroad, signed 52,115 in lease renewals and expansions throughout their Manhattan portfolio. Daniel Gohari, Vice President & Director of Commercial Assets, made the announcement.
GT Systems, an information technology provider, signed a 26,102 SF renewal and expansion of their current space at 295 Madison Avenue. ABS Capital Partners’ James Casely negotiated on behalf of GT Systems. Mitchell Konsker, Matthew Astrachan, Mitch Arkin and Mikael Nahmias of Cushman & Wakefield represented the ownership.
Studio Ray, a wholesaler of sporting and other recreational goods, renewed and expanded a 17,431 SF lease at 512 Seventh Avenue. Mathew Feigen and Michael Dreizen of Newmark Knight Frank negotiated on behalf of The Moinian Group.
Ascent Media Group, one of the world’s largest providers of integrated global services for the creation, management and distribution of media content, renewed a 8,582 SF lease at 545 Fifth Avenue. Ivan Hillman of CB Richard Ellis represented Ascent Media Group. Keith Caggiano and Sinclair Li, also of CB Richard Ellis, represented The Moinian Group.
The Moinian Group is widely regarded as one of the industry’s most active development firms, boasting a portfolio totaling more than 20 million square feet of commercial, industrial, residential, retail and hotel properties throughout the U.S. and abroad. Currently, The Moinian Group holds a portfolio of more than 20 million square feet of office, residential, retail and hotel properties throughout the U.S. and abroad, including 13 million square feet in Manhattan. The company has the most extensive private acquisitions in the country, including trophy buildings like the Downtown Club in Lower Manhattan, formerly known as the Downtown Athletic Club and home to the Heisman Trophy, the Sears Tower in Chicago and Continental Towers at 180 Maiden Lane in Downtown Manhattan. Its team of seasoned professionals, hands-on management style and a strategic approach to investment and growth has armed the firm with the tools necessary to take advantage of the unique opportunities available in the real estate marketplace.