Jay Suites, represented by Jones Lang LaSalle, has completed a 16,000-square-foot direct lease at 1370 Broadway. The executive business center signed a 10-year lease for office space at the 240,0000-square-foot, Class A office building.
The tenant was represented by Sean Black, vice president, with Jones Lang LaSalle’s New York office. Black worked closely with Jack Srour, CEO of Jay Suites, to complete the transaction. Building owner Sitt Asset Management was represented in-house by David Sitt.
“Jay Suites found 1370 Broadway to be an ideal location for its third office in Manhattan,” said Black. “This building is surrounded by Times Square, Penn Station and the Empire State Building submarket, and provides excellent access to transportation. In addition, 1370 Broadway offered a terrific floor plate that will allow Jay Suites to deliver a program consistent with its operations strategy at rental rates that should allow them to take market share in the area.”
Jay Suites will occupy the entire fifth floor at 1370 Broadway, which is located between West 36th and West 37th streets. The location will serve as the executive business center’s third office in Manhattan. “We are very excited about this project, which is the first of three more locations we plan to open by the end of the year,” said Juda Srour, president of Jay Suites. “It is great to have a location near both Penn Station and the Port Authority, since it allows easy access for our clients commuting in and out of Manhattan.” A tour and interview of Jay Suites’ current offices on Lexington Avenue was recently aired on WPIX’s Metro Residential.
Neighboring tenants at the building include Rosenthal & Rosenthal, Esprit, Outer Stuff, Cashmerefine USA, In Group Licensing, Kohler Ronan LLC Consulting Engineers, Oleg Cassini Hosiery, R & R Financial Corp., Shayne Industries, Starwear Distributors and Wells Hosiery.
About Jay Suites
Jay Suites is a modern full-service business center providing fully-furnished, luxurious office space to its clients. Jay Suites’ centers offer first-class business services including a receptionist, conference rooms and flexible lease terms. Our business centers are inspired by a unique blend of beauty and innovation that sets us apart from our competitors. From Italian-leather chairs to executive lobbies, the unprecedented attention to every design detail serves to establish an exclusive image for any business. To further spur business productivity, all office suites are equipped with the latest technological advances, including VoIP phones and secure high-speed Internet. We offer our clients the modern, 21st century office space they’ve always wanted in an all-inclusive pricing plan. Situated in the heart of the big apple, our executive suites offer exceptional identities to any business.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. In the New York area, Jones Lang LaSalle provides leasing and management services for nearly 45 million square feet of commercial real estate, including 700,000 square feet in Connecticut and northern Westchester County, N.Y.