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Winthrop Mgt. announces deals.

Winthrop Mgt. announces deals

Winthrop Management has reported lease signings of approximately 120,000 square feet during a 30-day period. New office, retail and showroom tenants account for 81,000 square feet. with renewals and expansions comprising the remaining 38,500 square feet.

William Potts. Winthrop's vice president, commercial division, stated, "We are especially encouraged by this activity because it occurred during the traditionally slow summer months. We are now looking forward to a very active fall."

In the largest of the transactions. Cygne. a private label fashion design firm, signed a lease for approximately 43,000 square feet at 1372 Broadway. The space will serve as Cygne's headquarters and includes the full second floor and mezzanine. According to Potts, Cygne was attracted to 1372 Broadway because of its ideal layout, configuration and the terms of the lease.

In another transaction at 1372 Broadway, Silkland signed a lease for 2,000 square feet of showroom space. Joanne Colbert-Florin represented Winthrop in both the Cygne and Silkland transactions.

At 757 Third Avenue. Winthrop's flagship building, The Gap expanded its retail presence by more than 4,000 square feet, bringing the total size of the location to approximately 10,000 square feet. Representing Winthrop in the transaction was Marc B. Schmittke, vice president.

Also at 757 Third Avenue. Schmittke represented Winthrop in a transaction with Businessland, a major computer products firm. The long-term, 10,000-square-foot lease represents an aggregate rental of $3 million and doubles Businessland's space.

In another retail space transaction, Moxi Design, a women's clothing wholesaler and retailer, signed a long-term lease for 2.700 square feet at 134 West 29th Street.

300 Park Avenue South, which recently completed a major renovation, welcomed Utility Programming and Metering to its tenant roster. The firm, an electrical metering consultant, leased approximately 4,500 square feet on the 10th floor in a long-term transaction.

Color Wheel. a leading photo finisher. expanded its facility at 227 East 45th Street by 11,000 square feet, bringing its total space in the building to more than 53.000 square feet. Color Wheel is the building's largest tenant.

Joanne Colbert-Florin represented Winthrop in the Utility Programming and Metering and Color Wheel transactions. Dolores O'Connor represented Winthrop in the Moxi Design lease signing.

The entire tower floor of 535 Fifth Avenue, totalling approximately 4,000 square feet was leased by Jostal Realty Corporation. The million dollar, long-term lease provides for new headquarters for Jostal Realty, a family-owned real estate firm with holdings in commercial and residential real estate in the New York metropolitan area. Marc Schmittke was Winthrop's representative in the transaction.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Property Improvement Supplement
Publication:Real Estate Weekly
Date:Oct 16, 1991
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