Marx Real Estate (MNPP), a New York, United States-based owner, developer and manager of office, retail and multi-family properties, announced that it has signed four new leases in its Bowery portfolio, which includes 135 and 161 Bowery. Companies ranging from creative entities to entertainment and technology entities have signed a total of 10,300 square feet of new leases in buildings on the Lower East Side.
“Tech, advertising, media and information companies have flocked to this dynamic neighborhood for its dynamic integrated amenities,” said Craig Deitelzweig, CEO of Marx Realty. “And, while the neighborhood is sought after for its authentic New York vibe, the buildings themselves are among the most distinctly designed in the area with unusually high ceilings and contemporary office suites. The rental velocity here is a perfect representation of the ongoing flight to quality in the office sector.
A Cushman & Wakefield team of Remy Liebersohn and Bianca DiMauro signed the following businesses, with asking rents ranging from $60 to $65 per square foot:
- Portlus, Inc.., a division of UK-based fashion brand Threads Styling, will occupy 2,133 square feet on the seventh floor of 135 Bowery and was represented by Tom Kelly at Square Foot.
- OJ Entertainmentupscale nightclub operator, signed a 1,657 square foot lease on the eighth floor of 135 Bowery and was represented by Harrison Katzman of Savitt Partners.
- creative enterprise Something Special Studios will occupy 3,300 square feet on the sixth floor of 161 Bowery and was represented by Eli Someck of Redwood Property Group.
- Magna Digital Inc. will occupy 3,300 square feet of space on the seventh floor of 161 Bowery and was represented by Jason Majlessi at Venture Commercial NYC.
These new tenants join a number of creative and tech companies, including entertainment and popular culture news website UPROXX, social media giant Kik Interactive, advertising company Space 150 and educational startup multinational Brainly.
Built in 1920 and remodeled in 2016, 161 Bowery is a seven-story building with street-level retail and 25,000 square feet of office space. Well-appointed suites offer 12-foot ceiling heights, open floor plates, and direct fiber optic connectivity. Inviting in-suite cafes and exposed ceilings exude an industrial sensibility that mimics the aesthetic of the surrounding neighborhood, while oversized operable windows allow for abundant natural light and sweeping city views. 135 Bowery is a newly constructed eight-story building with 23,000 square feet of space, retail at street level and offices on floors two through eight. Built in 2016, the modern building features private terraces on two of its floors as well as high-speed data connectivity and an attractive lobby. The entrance to the building features artwork by Brian Farrell. Marx Realty acquired 135 and 161 Bowery Street on Manhattan’s Lower East Side in 2018 as part of the company’s strategy to expand its commercial real estate portfolio.
The buildings are located in a coveted midtown Manhattan enclave and will soon house a new Moxy Hotel opening at 145 Bowery. 135 and 161 Bowery are near several iconic neighborhoods including Nolita, the East Village, and SoHo, and are within walking distance of Sara D. Roosevelt Historical Park as well as several restaurants, hotels, shops, and museums. The area is served by several bus stops as well as MTA subway stations serving the B, D, F, M, J, Z, and 6 trains.
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