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Accounting office needs add up to 100,000 s/f on B'way |
Accounting giant, Anchin, Block & Anchin LLP has added 16,000 s/f to its already formidable presence in Times Square South, with the company now occupying over 100,000 s/f at 1375 Broadway.
Anchin has grown steadily since moving into the Class B stand-out in 1987, going from just one floor to the six it now occupies in the 500,000 s/f office tower.
"Our growth in space mirrors our growth in the marketplace," said Frank Schettino, CPA, an associate managing partner of the firm. "Our
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reputation and experience in industries key to the local economy, including financial services, real estate and construction, is further fueling our growth. Anchin now has 48 partners and a staff of 300.
"This building is a fantastic location for us," Schettino added. "It is ideally located near Penn Station, Grand Central and the Port Authority, which makes it easy for our staff members who commute from other areas of New York, New Jersey and Connecticut. Its mid-town location is perfect for those who live in the city."
GVA Williams' senior managing director Perry Mesmer, along with executive managing director Marty Meyer, handled the transaction on behalf of the building's owners, a joint venture known as State Court Enterprises, of which Jonathan Rosen is the lead partner.
According to Mesmer, Anchin, Block and Anchin is the biggest tenant among a roster of solid performers that have helped keep 1375 a key player in the Broadway market. Media firm, Omnicom Group occupies two floors in the building while accountants, Raichene Ende, and apparel firms such as Rashti & Co and Apparel Associates also lease large chunks of space.
"We're thrilled that Anchin, Block & Anchin has chosen our building to establish a major presence not only in New York City, but the nation," said Mesmer. "Anchin is one of the top 25 firms in the country and they have been in the building for many years."
With firms waiting in line for space at the 98% occupied office tower, Mesmer said the Anchin expansion is a result of the good relationship the parties have built up over the years. "If we have space, we let them have it," he said.
In the past few years, the landlord has carried out extensive renovations in the building, including new elevators, lobby and entrance enhancements. Anchin Block and Anchin stated it will carry out new construction as well as extensive renovation to its existing space through the end of 2006.
According to Mesmer, rents in the building's upper towers stand at $32 psf with the landlord making some small contribution towards tenant installation work. "In this instance, that was not the way the deal was constructed," he added
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