FUBU deal keeps Empire State leasing on fast track.From high atop the Empire State Building, leading fashion and entertainment company FUBU FUBU For Us By Us (clothing brand) FUBU Fouled Up Beyond Understanding (polite form) FUBU Fouled Up Beyond Use (polite form) FUBU Fouled Up By User The Collection, a leading sportswear and entertainment company has renewed and expanded its office space to now occupy the entire 66th floor. As one of the sportswear industry's most recognizable brands, FUBU has grown significantly over recent years, making an impact in the music, film and TV industries as well. "It was a pleasure to work with FUBU and we wish the company continued success," said Brian Waterman, principal and executive vice president of Newmark & Company Real Estate, Inc., who negotiated on behalf of FUBU, along with Director Lance Korman. "In addition to its continued commitment, we greatly appreciated the ownership's cooperation in creating a lease that satisfied everyone's interest." Thomas P. Sullivan of Helmsley Spear, Inc., managing agent for the Empire State Building, represented the landlord in the long-term leasing transaction. Mr. Sullivan is Director of Leasing for the Empire State Building. "We're delighted that so many fine companies continue to grow and build their businesses at the most famous corporate address in the world," stated Mr. Stephen A. Tole tole also tôle n. A lacquered or enameled metalware, usually gilded and elaborately painted. [French tôle, sheet metal, variant of table, table, slab , General Manager of the Empire State Building, who noted that the property is presently enjoying one of its busiest periods of sustained leasing activity in recent memory. For the first ten months of 2003 compared to a year earlier, for example, the volume of new leasing activity by total footage at the Empire State Building was up 83.5% (184,476 SF to 103,153 SF); the number of new lease transactions was up 24.6% (81 leases to 65); the volume of renewals by total footage was up 59% (119,689 SF to 75,256 SF); and the volume of lease renewals was up 11.4% (49 leases to 44). Over the last several years, Brian Waterman and Lance Korman have established themselves as one of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's preeminent teams meeting the real estate needs of the entertainment industry. Though they represent a diverse range of clients, including owners and tenants, their roster of entertainment clients has been growing at an impressive rate, and now features such notable companies as Creative Artists Agency Creative Artists Agency (CAA) is a talent and literary agency which represents a vast array of actors, musicians, writers, directors, and athletes, as well as a variety of companies and their products. , Sony Music Entertainment Sony Music Entertainment is a major global record label controlled by the Sony Corporation. In 1988, Sony Corporation acquired CBS Records, Inc. for $2 billion. CBS Inc., now CBS Corporation, retained the rights to the CBS name, and Sony renamed the label , Tommy Mottola's Casablanca Records
Casablanca Records is a record label which was started by Neil Bogart, who partnered with Cecil Holmes, in 1973 after both of them left , P. Diddy's record label and clothing line (Bad Boy and Sean John Sean John is a clothing line founded by hip-hop mogul Sean Combs A.K.A Diddy,in 1998. The name is taken from Combs' first and middle given names. People representing the brand include Combs himself, rappers T.I. ), Russell Simmons' Phat Farm Phat Farm is an urban fashion line created by Russell Simmons, the founder of Def Jam (later sold by him in 2004 for $140M), in 1992. The brand is fairly expensive and worn for fashion instead of sport. clothing company and Jay Z's ROCAWEAR clothing line. Korman stated, "FUBU is part of a new generation of entertainment companies that mixes fashion with the media and entertainment industries. Satisfying the requirements of a client like this is a unique challenge, but it's one that Newmark has experience with, and I'm pleased that we were once again able to meet all of our client's goals." Long the symbol of New York, the Empire State Building remains one of the most prestigious addresses on the planet. Celebrating its 74th birthday this year, the Building continues a 10-year, $70 million, capital improvement project that has already included new windows, upgraded and computerized elevators, enhanced central air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. , new upper floor lobbies and bathrooms, interior lighting retrofit, expanded security systems and exterior limestone restoration. Elegant new, handicap accessible marble elevator cabs are now being installed. |
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