Katz Media Group has quietly renewed and rejiggered its lease to expand to about 200,000 square feet at 125 W. 55th Street.
The 591,000 square foot building is owned by Boston Properties, which bought it for $444 million after developer Macklowe Properties overextended itself on other transactions.
According to the paperwork, Katz, a division of radio giant Clear Channel Communications, will extend its lease to mid-2027, but has a five-year option to extend it to mid-2032.
Katz will remain on the third through seventh floors and may take over or give up the eighth floor. The company will also give up the ground floor now, and possibly the 21st floor after April 2012, when its original lease was to end.
The company will also add basement space as well as the 23,000 square foot 11th and 12th floors, which are being vacated by the law firm Dewey LeBoeuf.
Asking rents could not be learned, but would likely start in the $50s, sources said.
The newly extended deal, as well as amended leases made by other large tenants including Macquarie Holdings and Air France, all helped Boston Properties obtain a new $207 million mortgage through MetLife.
Michael Laginestra and Michael Geoghegan of CB Richard Ellis represented Katz, while Andrew Levin of Boston Properties handled leasing for the building.
Executives at Boston Properties and CB Richard Ellis declined to comment.
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Starting tomorrow, Chanel is moving its SoHo store into a temporary 10,700 square foot duplex store at 134 Spring Street. Its current shop across the street at 139 Spring will be closed for renovations until mid-September.
When it finally moves out, the 134 Spring space, which has 5,700 square feet on the ground and 5,000 square feet on the lower level, will be ready for its next act.
The address has benefited from a series of short stays but the owners would now like to sign a long-term lease.
The Limited leased the shop last fall for a one-week pop-up store but stayed for the holidays.
Then the Rug Company took over 134 Spring while its space at 84 Wooster was being renovated under a renewal for 3,800 square feet on the ground and 2,000 square feet in the basement. The Rug Company is reopening this week in its regular location, leaving Chanel to take over the now-empty space.
Rents in the immediate area run around $300 a foot for the ground floor.
Karen Bellantoni of Robert K. Futterman represents the 134 Spring and 84 Wooster owners, while Paul Muratore of CB Richard Ellis represented Chanel.
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Team Emden, consisting of Robert Emden, his son David, and Stephen Gordon have joined Newmark Knight Frank after five years with PBS Real Estate.
“This was the right fit in all regards — personality, culture, depth and breath of services,” said Robert Emden. “We will be collaborating with everyone [at Newmark].”
The move was prompted by their clients — a mix of corporate and financial-services firms that target the Plaza District — needing services around the world that the team can now provide through NKF.
Meanwhile, they report, Plaza District owner RFR Holdings just bumped up rents by $5 at its two landmarks. Asking rents went to $120 a square foot at both the Seagram Building and Lever House.
“We are entering into a period of rental growth within the two buildings resulting from the demand and level of activity,” confirmed Steve Morrows of RFR.
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FXall, a leading electronic foreign exchange platform is moving to 31,440 square feet on the entire 10th floor of 909 Third Avenue. The firm will move from 900 Third, where they have half the space.
Bradley Gerla and Keith Caggiano of CB Richard Ellis represented the tenant, while Tom Costanzo worked in-house for building owner Vornado Realty Trust.
The asking rents are in the high $40s to low $50s a square foot.
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Due to an editorial gremlin in last week’s column, the new description of Gary Barnett‘s Christian de Portzamparc-designed 74-story hotel and condo tower across from Carnegie Hall was mistakenly identified as one of the Riverside Center buildings, which the same architect also is designing.