Marcus Rayner, principal of Cresa Partners, says theEuropean-based investment firm required "substantially" more spaceto meet the demands of its growing operations, and it wanted toremain in the Rockefeller Center neighborhood. "AlthoughRockefeller Center's vacancy rates were extremely low, ownershipwas very accommodating in structuring a transaction that metAlpInvest's long-term goals," he adds.

Rayner and Ed Wartels, associate at Cresa, representedAlpInvest. Edward J. Gargiulo of Tishman Speyer Propertiesrepresented the ownership. Further details of the transaction werenot released; however, space in the 1.3-million-sf site isadvertised from $61 per sf to $68 per sf. Others on the tenantroster include PricewaterhouseCoopers and Bessemer Securities.

In another transaction, LS Power leased 12,625 sf at 1700Broadway for 10 years. The firm, which currently occupies space at494 Eighth Ave., was looking to significantly increase its size andlocate a space that could be built out to meet specificrequirements, says Rayner. The firm plans to move this fall. Raynerand Wartels represented LS Power. Peter Shimkin, Daniel Levine, andDavid Falk represented ownership at 1700 Broadway.