{"id":36614,"date":"2023-08-18T08:00:53","date_gmt":"2023-08-18T05:00:53","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=36614"},"modified":"2025-03-25T16:08:45","modified_gmt":"2025-03-25T13:08:45","slug":"circle-realty-group-new-office-lease-deals-14-penn","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/circle-realty-group-new-office-lease-deals-14-penn\/","title":{"rendered":"Circle Realty Group Secures 4 New Lease Deals at 14 Penn"},"content":{"rendered":"

Having previously secured the long-term renewal of Mueser Rutledge Consulting Engineers at 14 Penn Plaza<\/a>, owner Circle Realty Group is not showing any signs of a slowdown as it managed to seal eight new lease deals in the last four weeks at its Midtown office<\/a> property.<\/p>\n

The largest of these was a 15-year deal with law firm Capell Barnett Matalon & Schoenfeld. The asking price at 14 Penn Plaza is $60 per square foot. Newmark\u2019s Richard Kramer brokered the deal on behalf of the tenant.<\/p>\n

The firm will occupy 15,000 square feet at 14 Penn Plaza after vacating its current offices at 1385 Broadway.<\/p>\n

Another recent deal involved VMware \u2014 a division of Broadcom Software \u2014 which inked a 10,000-square-foot lease. The software company will be moving its operations from\u00a0636 Avenue of the Americas. JLL\u2019s Peter Michailidis and Daniel Posy represented VMare.<\/p>\n

Other new tenants include: law firm Garganigo Goldsmith & Weiss, which renewed its lease for 12 years and upgraded from 3,700 square feet to 6,000 square feet; Metropolitan Foot & Ankle Group, which signed a 1,356-square-foot lease; law firm Sun & Ren, which nabbed 2,098 square feet; RMR Wealth Management, which took 1,500 square feet; Liu, Chen & Hoffman, which is relocating from 1 Penn Plaza with a 1,500-square-foot deal; and Empire Hospitality, which also grabbed 1,500 square feet<\/p>\n

\u201cThe good news is that there\u2019s life there,\u201d said\u00a0Jay Futersak, president of\u00a0Circle Realty. \u201cWe\u2019re catering to the full-service, smaller firms that aren\u2019t looking for full floors. We\u2019ll take [larger tenants], but we\u2019re seeing absorption.\u201d<\/p>\n

For more Manhattan listings and top-tier office properties across all major U.S. markets, visit CommercialCafe.com:<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
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New leases signed by Circle Realty Group at 14 Penn are part of Manhattan office lease activity driven by small businesses who occupy smaller footprints in flexible multi-tenant developments. <\/p>\n","protected":false},"author":56,"featured_media":36615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,39],"tags":[],"class_list":["post-36614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-office","wpautop"],"acf":[],"yoast_head":"\nNew Office Lease Deals at 14 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