January 16, 2023
48 W 25th – MediaCo Lease
By Steve Cuozzo –
Canadian wealth management firm CI US Holdings is taking a major Midtown stake with a 50,000-square-foot lease at H.J. Kalikow’s flagship 101 Park Ave.
Cushman & Wakefield’s John Cefaly and Nicholas Dysenchuk repped the landlord. Savills’ Mitti Liebersohn, Mark Robbins and Evan A. Foley acted for the tenant.
CI US’ move grew out of its recent acquisition of two Midtown firms which they consolidated at their new location. The asking rent was $105 psf.
Cefaly said that Kalikow’s “fantastic job positioning” 101 Park helped facilitate Convene’s recent expansion in the tower as well as new leases for Wendel North American and Incline Equity Partners.
Landlord principal Kathryn H. Kalikow said that 101 Park Ave. has “outperformed the market , leasing over 110,000 square feet in the last quarter alone.”
Iconic radio stations HOT 97 and WBLS have a new home: Savanna’s 48 W. 25th St., where parent MediaCo Holding signed a lease for 25,000 square feet.
The new digs will serve as the stations’ broadcast studios and headquarters. Savanna bought the building in 2018 and performed a major capital upgrade.
Cushman & Wakefield represented both the landlord and the tenant.
Two high-profile restaurant-expansion deals were just signed downtown.
Popular uptown “New Peruvian” spot Mission Ceviche took 11,000 square feet for a second location at 5 E. 17th St. J.W. Burke’s Jonathan Burke and Lena Roth brokered the direct deal with landlord Acadia Realty Trust.
Meanwhile, Tribeca Mexican spot Casa Carmen also branched out with 2,500 square feet at 5 W. 21st St. in Flatiron., former site of Merakia Greek steakhouse. Jonathan Burke was the sole broker in the off-market deal.