Northeast

The lease is among multiple recent deals with various companies showing strong interest in the flexible workspace sector.

In its report on the three boroughs for the month of August, the brokerage firm says that concessions remain a key part of leasing strategy in Manhattan and Brooklyn and to a lesser degree in Queens.

The new tenant representation team also includes tenant advisors Ted Lacy, Tyler Roeller and Josh Evans. Together, they bring more than 40 years of experience, working with retailers like Ace Hardware, Wendy's and The Little Gym International across the US.

The seller, a Wharton equity company, acquired the property in early 2017 in an off-market transaction from the original developer and thereafter undertook significant renovations at the property that produced dividends.

The capital will be used for acquisitions, organic growth and strategic investments into various hospitality assets.

The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation's largest airport news and concessionaire.