News
MEATPACKING MARVEL
July 20, 2010
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| Now that Howard and Brad are done with 4 New York Plaza's big lease, it's time to focus on another building—414 West 14th Street, a century-old industrial building that the Carlyle Group and Sitt Asset Management purchased in late '07 for $70M (our own Ryan Begelman spent late nights eating Thai food and modeling cash flows for the acquisition) and have renovated into an office and retail destination in the center of the Meatpacking District. The owners and CBRE held a Bastille Day-themed broker party at the property last week, where Coldwell Banker Commercial Hunter Realty's Neil Murray won a $5k American Express gift certificate to travel anywhere—and it's vive la France! for him, he tells us. |
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| We snapped Brad (right) with Morrison Cohen's Stephen Soleymani and Carlyle's Eugene Stacey on the building's 6.7k SF second floor, which has a lease out. The retail portion has 3.7k SF available on the first floor and 3.8k SF on the lower level. Levi's already leased a portion on the first and lower levels, and the new tenant will join neighborhood retail icons like The Apple Store, Alexander McQueen, Stella McCartney, and Diane von Furstenberg. |
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| Building brokers Matthew Chmielecki, Matthew Bergey, Andrew Goldberg, Howard Fiddle, Reginald Wells III, and Evan Haskell, all of CBRE. The building also has 50k SF of office space available, including 9.5k SF full floors. All five floors have been modernized, but have exposed brick and arched windows— perfect for a creative or showroom tenant. (Bonus: whomever takes the sixth floor, which has a lease out, will have access to a 4k SF rooftop with views of the High Line, Hudson River, and The Standard Hotel). Law firm Purrington Moody Weil has already inked a long-term, 8k SF lease on the fourth floor. |
