By Al Barbarino
Newmark Knight Frank duo Howard Kesseler and Jordan Gosin are raising a glass to the revival of the landmarked loft building at 625 Broadway.
The pair has closed six new leases at the 12-story building that had fallen into receivership.
“This is really a comeback story,” said Kesseler, executive managing director at NKF. “The fact (that) the property fell into receivership was an opportunity rather than a challenge. What we have now is a building that offers tenants the ability to create a space that fits their needs and price point.”
Newmark Knight Frank retooled marketing efforts at the building, aiming at media companies and other creative users, while reviving the building’s image, the brokers said.
Newcomers to the building include online content provider Studio One Networks, which signed a new lease for the 8,000 s/f 11th floor; a real-time information services and analytics provider snagged the 8,000 s/f 10th floor; and Chipotle, the national burrito chain, took the 2,800 s/f retail space that faces Broadway and opened up shop in mid-November.
Existing tenant Manic, a media design company that specializes in motion graphics, renewed their lease of the 8,000 s/f second floor; editorial boutique Jump renewed their lease on the 8,000 s/f seventh floor and will expand into the 8,000 s/f eighth floor next month; while Gonzalez Y Gonzalez, a Mexican restaurant and bar will re-open under new ownership at the Mercer Street storefront.
“It’s a nice creative mix in here and a lot of tenants want to be in the area,” said Gosin, an associate director at the brokerage, adding that they hope to draw similar companies into the five floors that remain vacant.
Potential tenants will be offered market concessions, which may include a new building installation and rent abatement, Gosin said.
