Recent Commercial Real Estate Transactions

83 Maiden -WeWork.png

$40/SQ. FT.

$2.2 million approximate annual rent

83 Maiden Lane (Between Gold and William Streets)

Manhattan

WeWork signed a 15-year lease for four floors totaling 56,000 square feet in this building in the financial district. Other occupants of the building, which was built in 1958, include AHRC, which owns the building, and a restaurant. The floors WeWork is leasing were previously occupied by Milbank Tweed and a municipal agency.

Tenant: WeWork

Landlord: AHRC New York City

Brokers: Kent Swig and Andrew Simon of Helmsley Spear

Falcon Pacific Hires Chief Estimator in Busy Year for Manhattan Construction

Gandino Has Almost 40 Years of Experience in Major Projects

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Construction firm Falcon Pacific added a chief estimator to its team as New York City finds itself under transformation by a deluge of new commercial development.

Douglas Gandino will lead future project scoping for the New York-based Swig Equities-owned firm, which focuses on interior and exterior ground-up projects in the metropolitan area.

About 18.5 million square feet of new office space is being built in Manhattan as of the second quarter, according to CoStar data, compared to the same time last year when about 15.3 million square feet was underway. This year alone, CoStar has recorded nearly 4 million square feet in new construction starts, the highest figure since 2015. Since 2010, the market has seen 21 million square feet of office space delivered.

Gandino brings 38 years of experience in budgeting multimillion dollar infrastructure and development projects for the private sector and government clients.

Prior to joining Falcon Pacific, he had his own construction consulting practice. He has worked on medical, retail, corporate and hospitality projects for Ralph Lauren, Columbia University and New York University. In those projects, he led pricing and engineering, as well as the requests for proposals for subcontracted work.

Kent M. Swig, president of both Falcon Pacific Construction and its sister company, Falcon Pacific Builders, called Gandino’s career “impressive” in a statement.

“He earned his reputation over the last three decades as an interior and core shell estimator, and we look forward to working with him in the years ahead,” Falcon Pacific CEO Carl Schwartz and Chief Operating Officer Joe Caraciolo said in joint statement on Gandino’s hiring.

These were NYC’s top office leases in August

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

WeWork Takes 4 More Floors Of Office Space In FiDi

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

Helmsley Spear Negotiates 56,000 SF Office Lease for WeWork in Manhattan

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

WeWork IPO will test level of 'consensual hallucination' in market

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

83 MAIDEN LANE IS FULL, THANKS TO WEWORK

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

With WeWork moving in, FiDi’s 83 Maiden Lane is fully leased

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

This Week's N.Y. Deal Sheet

This Week's N.Y. Deal Sheet

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that it has brokered a new lease on Manhattan’s Upper East Side totaling 1,750 square feet. This lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear is establishing itself as an Upper East Side retail deal maker. We expect to see additional leasing activity in prime Manhattan markets in the coming months,” said Kent Swig.

Swig, Simon and Zelner of Helmsley Spear arrange 4,170 s/f retail lease


NEW YORK CITY—Helmsley Spear has appointed Andrew G. Simon as EVP of the company, focusing on investment sales as well as commercial office leasing transactions. 

“His extensive background and expertise in the real estate industry will be a valuable asset to our growing New York City team,” says Kent M. Swig, president of Helmsley Spear.

Simon brings over 35 years of real estate experience, initially as a leasing professional, and then transitioning to investment sales and capital markets. 

WeWork Secures 56,000 SF FiDi Lease

WeWork Secures 56,000 SF FiDi Lease


NEW YORK CITY—Helmsley Spear has appointed Andrew G. Simon as EVP of the company, focusing on investment sales as well as commercial office leasing transactions. 

“His extensive background and expertise in the real estate industry will be a valuable asset to our growing New York City team,” says Kent M. Swig, president of Helmsley Spear.

Simon brings over 35 years of real estate experience, initially as a leasing professional, and then transitioning to investment sales and capital markets. 

WeWork Takes 56K SF in Financial District

WeWork signed a 15-year lease last week for the entire third through sixth floors of83 Maiden Lane between Williams and Gold Streets, according to brokerage Helmsley Spear. Asking rent was $44 per square foot.

The deal brings the 170,000-square-foot building, owned by nonprofit AHRC New York City, to full occupancy, Helmsley Spear said. WeWork will take over offices previously occupied by law firm Milbank Tweed, the New York City Department of Buildings and AHRC — which will move to another floor to create a contiguous block of space — in the fourth quarter of this year, a spokesman for Helmsley Spear said.

Kent Swig and Andrew Simon of Helmsley Spear represented both sides of the deal.

“We are so pleased that Helmsley Spear has successfully leased the entire vacant office space at 83 Maiden Lane to WeWork,” Simon said in a statement. “They have continued to have a strong appetite for additional locations in the Downtown FiDi marketplace.”

WeWork’s deal comes less than a week after a new restaurant and brewery, MezCalitook 4,170 square feet on the ground floor and basement of the 13-story 83 Maiden Lane.

AHRC, which serves people with intellectual and other developmental disabilities, bought the property for around $30 million in 2005 as it moved out of offices from 200 Park Avenue, the New York Post reported. The building is located across the street from the towering 2 Gold Street apartment complex and is a block away from the Federal Reserve.

Helmsley Spear Brokers New Retail Lease For 83 Maiden Lane In FiDi

Helmsley Spear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, and a proud member of CORFAC International, is pleased to announce that it has brokered a new retail lease in FiDi, totaling 4,170 square feet at 83 Maiden Lane with the restaurant and brewery known as MezCali. The lease was announced by Kent M. Swig, President of Helmsley Spear.

“We are thrilled that Helmsley Spear has successfully leased this prime FiDi location to MezCali. The space will be a bar, brewery and restaurant and this new lease follows the active transformation of FiDi into a 24/7area as a commercial, residential, hospitality, and dining destination for many New Yorkers and visitors alike,” said Kent Swig.

Kent M. Swig, Andrew Simon and Brett Zelner of Helmsley Spear represented the landlord, AHRC NYC in this lease, and Manu Wendum and Lee Block of Winnick represented the tenant. The 20 year lease includes the ground floor and a portion of the basement.

“MezCali will be another wonderful dining destination in FiDi. We are so pleased to have represented AHRC NYC in this transaction which further positions their building as a location for business and pleasure,” said Andrew Simon and Brett Zelner of Helmsley Spear.

“We are so pleased to welcome MezCali to our building and everyone is looking forward to their opening,” said Amy West, Executive Vice President and Chief Financial Officer, AHRC NYC, the owner of 83 Maiden Lane. “It has been a pleasure working with Helmsley Spear, both as our leasing agent and our property manager,” added Ms. West.

Helmsley Spear serves as the exclusive leasing and managing agent on behalf of AHRC NYC, the owner of 83 Maiden Lane, a 170,000 square foot commercial office building.

About Helmsley Spear

Since 1866, Helmsley Spear has been a leader in commercial real estate creating legendary deals that are the cornerstones of the real estate industry, and is the oldest, continually operating real estate firm in America. Evolving from a real estate appraisal company to a full-service firm providing highly-skilled, professional performance and bottom-line profitability for its clients, Helmsley Spear provides property owners and users of real estate with a full array of services including: office and retail leasing; property and asset management; capital advisory services; investment sales and financing; project development and construction management; preventative maintenance and engineering; insurance services and appraisal. Helmsley Spear is independently owned and operated with offices in New York and San Francisco.

Helmsley Spear Brings New Restaurant Concept to FiDi

Helmsley Spear brokered a new retail lease with restaurant and brewery MezCali at 83 Maiden Ln. in the Financial District. The 20-year lease for 4,170 square feet includes the ground floor and a portion of the basement.

“The space will be a bar, brewery and restaurant and joins Malt House, another restaurant in FiDi which is under the same ownership,” said Helmsley Spear president Kent Swig.  “This new lease follows the active transformation of FiDi into a 24/7area as a commercial, residential, hospitality and dining destination for many New Yorkers and visitors alike.”

Swig represented the landlord at 83 Maiden Ln., AHRC NYC, along with Helmsley Spear’s Andrew Simon and Brett Zelner. Manu Wendum and Lee Block of Winick Realty Group represented MezCali. Helmsley Spear serves as the 170,000-square-foot office building’s leasing agent.

Helmsley Spear Negotiate 4,100 SF Retail Lease in Manhattan

NEW YORK CITY — Helmsley Spear LLC has negotiated a 4,100-square-foot retail lease in the Financial District of Manhattan. The 20-year lease includes the ground floor of 83 Maiden Lane and a portion of the basement, which will be converted into a restaurant and brewery called MezCali. Kent Swig, Andrew Simon and Brett Zelner of Helmsley Spear represented the landlord, AHRC NYC, in the lease negotiations. Manu Wendum and Lee Block of Winnick Realty Group represented the tenant.

Restaurant and Brewery to Open in Financial District

MezCali signed a 20-year lease for 4,170 square feet on the ground floor and part of the basement of 83 Maiden Lane between Williams and Gold Streets, according to the landlord’s broker Helmsley Spear. A spokesman for Helmsley Spear declined to provide asking rent in the deal, but CoStar Group data shows retail rents in the property are around $109 per square foot.