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Broad Street’s 370 Lexington Inks 7 Leases at Year’s End

370 Lexington Ave., a Grand Central District prewar office building that Broad Street Development recently re-acquired and is now repositioning, signed seven tenants for more than 20,000 square feet in less than 60 days.

The flurry of activity capped a successful 2019, with Broad Street’s repositioning of 370 Lexington leading to more than 30 new deals totaling more than 80,000 square feet.
The new leases include:

• Basis Research, 3300 square feet
• Boutique fashion company Slip, 2,410 square feet
• One Search Inc., 2,223 square feet
• Clear Haven Capital Management, 1,100 square feet
• Sircle Media, 4202 square feet
• The United Nations Mission of Saint Kitts and Nevis, 4,470 square feet
• Madison Avenue Eye Care, 2,720 square feet

After selling 370 Lexington to Sherwood Equities in 2008, Broad Street bought it back for a reported $190 million in December 2018. The owner-developer has spent $30 million on renovating the 300,000-square-foot property.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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