Henro had been located at 462 Broome St. for the past eight years until signing a 10-year deal for close to $60 per sf with building owner 514 Broadway Corp for its new space on Crosby Street near the corner of Spring Street. Sinvan Realty Corp. president Bruce Sinder represented the co-op that owns the building while Henro negotiated on its own behalf.
According to Sinder, while the space had recently been improved and is well-suited to Henro's needs--it was formerly occupied by a furniture showroom--the owner included some free rent to seal the deal. "We liked Henro because they had an existing track record in the neighborhood," Sinder tells GlobeSt.com. "We were comfortable with them knowing the market and the marketplace and they need the room to expand."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.