Flatiron gem is right fit for New Video Group.

DVD distributor, New Video Group, had such confidence in their broker, Marc Ellman, president of Ellman Realty Advisors, they inked a 16,500 s/f deal, representing the entire 9th floor, at 902 Broadway without even seeing the space.

"There was a jewelry manufacturing operation on the premises that had high security requirements, which meant we had to negotiate the deal without getting inside the space," explained Ellman.

"But we knew that the building was right for New Video Group. I had spent a year-and-a- half working in a very tight market and identified the space before it came to the market. When I learned the floor was going to be vacated, I approached the landlord and locked in a deal."

Ellman, whose firm specializes in the Flatiron District, added, "The size of the space was right for the client and they liked the location, right in the middle of the Flatiron District, which has become highly desirable."

Residential conversions in the neighborhood have impacted rents on available commercial space and asking rents at 902 Broadway are $29 psf.

New Video Group will relocate from its existing 7,000 s/f space at 126 Fifth Avenue to 902 Broadway, where other tenants include North American Bear Company and Lehr Construction.

This is the third lease deal that Ellman has negotiated for New Video Group as the company has grown.

Daniel M. Wasser of Franklin, Weinrib, Rudell & Vassallo, P.C was the attorney for New Video Group. The landlord's leasing agent was Perry Mesmer, of GVA Williams.