X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Broadpoint Gleacher Securities Group is consolidating from three Midtown locations into one, signing on for 15 years and 74,000 square feet at 1290 Ave. of the Americas for its new Manhattan headquarters. A spokeswoman for Cushman & Wakefield, which represented the investment bank in negotiations, tells GlobSt.com that Broadpoint Gleacher may eventually expand into considerably more space there.

“Our new Manhattan headquarters presents a great opportunity to enhance our infrastructure and provide greater scalability to our technology platform as we continue our growth,” says Laurence Mascera, chief administrative officer of Broadpoint Gleacher, in a release from the tenant. The firm is consolidating onto a portion of the fourth and fifth floors at 1290 Sixth Ave. from a total of 67,000 square feet at 12 E. 49th St., 660 Madison Ave. and One Penn Plaza, and expects to occupy its new headquarters in May 2010.

According to an SEC filing from Broadpoint Gleacher, the move to 1290 Sixth entailed landlord Vornado Realty Trust agreeing to transfer the tenant’s obligation from One Penn to the new space; Vornado owns both properties. Broadpoint Gleacher has the option of extending its lease at 1290 Sixth for five years. Its rent will total about $69 million over the 15-year initial term of the lease.

C&W represented Broadpoint Gleacher in its 16,000-square-foot expansion space at 12 E. 49th; the deal was announced as recently as this past February. The C&W spokeswoman says the East 49th space will be subleased.

Representing Broadpoint in the 1290 Sixth deal were Matthew Astrachan, Mitti Liebersohn and Steven Bauer, all from C&W. C&W’s Paul Glickman, Alex Chudnoff, Franklin Speyer and Amy Fox represented the landlord, along with Glen Weiss, SVP and director of leasing at Vornado.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.