A Very Small Office deal in Tribeca.
The firm's new landlord is Instar Capital, which purchased the commercial condominium space, as well as 4,400 square feet more, in the building earlier this year.
Roxanne Betesh, vice president of Sinvin Realty Corp. and exclusive commercial sales agent for the building represented both sides in the transaction. Tarter|Stats Realty represented Instar Capital in its original purchase of the space.
Financial terms of the five-year lease are not being disclosed, but Instar Capital had been asking $36 per square-foot.
"Instar Capital made a savvy move by purchasing more space than it currently needed and leasing the remainder to AVSO," says Betesh.
"It was a sound investment for the company, and will be readily available office space when Instar expands down the road."
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|Publication:||Real Estate Weekly|
|Date:||Oct 5, 2005|
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