9:57 AM
Newmark today announced it has successfully brokered a lease for the University of Texas at The Club Row Building, 28 West 44th Street, on behalf of the building’s owners, APF Properties. Newmark Executive Managing Directors Andy Sachs and Tim Gibson, Managing Director Josh Gosin, and Associate Matthew Augarten represented ownership. Justin Halpern and John Harris of Cushman & Wakefield represented the University of Texas.
The University of Texas leased the entire 15th floor of The Club Row Building, comprising 15,212 square feet, for a combination of alumni relations space, meeting rooms and classrooms that will be built out with a distinctly Texan feel including exposed brick and barn doors. The asking rent for the space was $66 per square foot.
APF Properties recently completed a significant capital investment program at The Club Row Building, a 22-story, 372,000-square-foot best-in-class office building steps from Bryant Park with easy access to many public transportation routes and unlimited dining and shopping options. This includes on-site choices like award-winning Japanese restaurant Sen Sakana and Dunkin Donuts. Other building amenities include an on-site, full-service US Post Office, hairdresser, tailor, shoe repair, newsstand and tenant bicycle storage. The building is LEED Gold certified and has also been WIRED CERTIFIED GOLD, signaling its excellence in broadband connectivity and infrastructure. Ownership has recently announced that it plans on constructing a dedicated tenant lounge with conference rooms, coffee bar, pantry, lounge seating and complimentary snacks.
“The fact that the space held such appeal for a university always looking for cutting edge spaces and progressive teaching environments for its students is a testament to the recent improvements APF has made to The Club Row Building,” said Sachs. “The University of Texas is one of several innovative tenants APF has attracted to the building in recent months.”
“We were excited to work with the University of Texas to bring to life this Texan-inspired home for their students in the heart of Manhattan,” added Kenneth Aschendorf from APF Properties. “CUNY already has a large presence in our building, and our location on ‘Club Row,’ home to the Harvard, Yale, Cornell, Princeton, Penn, and Columbia university clubs made us the obvious choice for UT. This centrally located space will afford students a great opportunity to get the real ‘New York’ experience, studying in the city, engaging with UT alumni and more.”
The University of Texas is partnering with the Moody College of Communication, the McCombs School of Business, and the College of Fine Arts to launch UT in New York. This program will provide semester-long opportunities for students to study, work and live in New York City and has been modeled after a similar program in Los Angeles.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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