Commercial Real Estate & Advisory

Sinvin Sees Demand for Boutique SoHo Spaces

March 28, 2007

Sinvin Realty announced that every available space in its exclusive property at 400 West Broadway between Spring and Broome Streets in Soho – four office spaces covering six floors and 7,810 sf in all – has been leased.

Sinvin principals, Bruce Sinder and Christopher Owles, aided by agent Lisa Webb, represented the landlord, Shulsky Properties, Inc., in each of the four transactions with dynamic and high profile tenants.

“400 West Broadway is one of few buildings in Soho where a company can find a small boutique space with a high profile edge.” Said Chris Owles. “That’s why it was in such high demand. We were pleased to get such a great response.”
Renting the fourth floor is CGI animation production company 1stAveMachine, which signed a five-year lease. The asking rent for the 1,280 sf space was $64,000 per annum. The creative group, whose client list includes Adidas and MTV Japan, produces cutting edge work for advertising, broadcast, music videos and feature films. Sebastian Leon of New York Commercial Realty Services, LLC represented the tenant in this deal.

Occupying the third floor space, which is also 1,280 sf in size, is the Rene and Hans Hofmann Trust. The asking rent for this space was also $64,000 per annum. Matthew Krasinski of Williamson, Picket, Gross represented this tenant.
The 1,850 sf space on the second floor is being leased by High Energy Holdings, LLC, headed by Steve Mandell, creator of the ultra-trendy P.I.N.K. Vodka. Asking rent was $120,000 per annum. Seven Jems Realty Services’ Brett Rovner represented High Energy.

At the top of this seven-story SoHo charmer is a triplex penthouse space eaturing a double-height skylight and three roof decks, and which totals 3,400 sf.

Edgy denim company Rock & Republic, popular with A-listers and jet setters, signed a five-year lease with an asking rent of $180,000 per annum for the three-stories. Sinder and Owles represented both sides of this lease transaction.
The long-time ground –floor retail tenant in the building is the Robert Lee Morris Gallery.