Abel Cine Tech Renews and Expands Lease at 609 Greenwich Street
New York, NY (August 3, 2010)
Abel Cine Tech, a provider of HD equipment sales, rental, and professional media services, has renewed and expanded its lease on its New York City offices. The company, which also has offices in Chicago and California, signed a 23,605-square-foot lease for the entire fifth floor, which it currently occupies, and half of the fourth floor, the expansion space, at 609 Greenwich Street.
Nicholas Farmakis, managing director at international real estate services firm Studley, represented Abel Cine Tech in the transaction.
“We had been out in the marketplace with Abel Cine Tech for about two years, searching for space that could accommodate its growth,” shared Mr. Farmakis. “The market changed 180 degrees since the search started, which contributed to our ability to expand in the company’s current location, a building with a film-centric tenant roster. “The building provides Abel with the ability to create executive offices, a technical training center and an expanded sales showroom, as well as 24-hour use of the freight elevators, in an area conducive to house Abel’s line of work.”
The lease includes free rent and a work letter that Abel will use to renovate its existing space and build out its new space.
Daniel Levine of Newmark Knight Frank represented the landlord, Centaur Properties.
Studley is the only global tenant advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.