With Growing Real Estate Practice, BerlinRosen Expands to 24,500 SF
The PR firm signed a six-and-a-half-year sublease adding 7,000 square feet at Heller Properties’ Lower Manhattan office building at 15 Maiden Lane.
NEW YORK CITY—BerlinRosen has expanded its New York City footprint by 7,000 square feet to total 24,000 square feet at 15 Maiden Lane in the Financial District.
Originally constructed in 1908, the entire building has a total of 140,204 square feet and is owned by Heller Properties according to Real Capital Analytics.
Already the anchor tenant, the public relations and strategic communications firm currently occupies 17,500 square feet across the 11th, 15th and 16th floors. For a six-and-a-half year term, they’ve signed a sublease for part of the fourth floor, which they’ll add to their office space later this spring. Direct asking rents in the building average $40 per square foot according to CoStar.
A source with knowledge of the deal tells GlobeSt.com that the sublandlord is Century 21 and the expansion was driven in part by the growth of BerlinRosen’s real estate practice. That group now includes more than 30 people working across public relations and digital fields.
All of the brokers on the deal were from Lee & Associates NYC. Gregory Gang and Catherine O’Toole represented Century 21. Ari Waldman negotiated on behalf of BerlinRosen.
In addition to its Lower Manhattan location, the PR company also has offices in Los Angeles and Washington D.C. The firm works for a diversity of businesses and industries, such as national nonprofits, New York City-based nonprofits, advocacy groups, transportation companies and global tech. Its clients include Samsung, Cornell University, Lyft and the Waldorf Astoria.
In real estate, it represents leading firms such as SL Green Realty Corp., the Brookfield Properties, Silverstein Properties, Oxford Properties, Jamestown Properties and the Durst Organization.
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