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Newmark Knight Frank’s Rick Kramer and Ken Kronstadt
Across the street, at 1430 Broadway, L’Occitane is now the lucky leaseholder of a rare, 21k-SF space with a private escalator. We dropped by to visit Newmark Knight Frank’s Rick Kramer and Ken Kronstadt, who told us of other leases there: Twin America—the combined company of CitySights and Gray Line tour buses—took 10.8k SF and insurance firm Garber Atlas Fries & Associates nabbed an additional 4k SF on the 5th floor, bringing the total space recently leased in the Times Square South building to 60k SF and leaving almost no vacancy yet again.
1430 Broadway
Space doesn’t appear often. When tenant Hartmarx left the second floor last year, it was the first substantial vacancy since ’06. There’s only 3.6k SF available now, but more may soon open, and attracted tenants have already been calling, they say. The building features all-side lighting on tower floors, nearby access to 12 subway lines, and a fourth-generation owner with low overhead. They’re working with architect George Hatkoff to build out new tenants’ space, while L’Occitane is constructing a prototype store on the second floor to train new employees. Fun fact: it’s only the third tenant to reside on the floor since the building’s ’55 completion.