ATCO Properties & Management announced today that media company Hot in Here Inc. has signed a seven-year lease renewal at 240 West 35th Street, an 18-story, 165,000 square-foot office building in the Garment District.
The company, led by principals LaTaya Edwards and Vlad Lyubovny,are the owners of hip-hop and pop culture website VladTV.com. As part of the agreement, the firm will continue to occupy 4,085 square feet across a portion of the 12th floor.
The lease renewal follows the completion of ATCO’s multi-million capital improvement program at the building, which was finalized last year. The project involved an elevator modernization, refinished main lobby, refreshed common corridors, lobbies, and bathrooms, as well as a complete façade and roof restoration.
“We are thrilled that Hot in Here Inc. has chosen to renew its lease at 240 West 35th Street long-term,” said Kate Goodman, co-president of ATCO Properties & Management. “This transaction is a reflection of our hands-on management approach and steadfast commitment to our tenants.”
John Cinosky, President of Atco Brokerage Services, together with Colin Godwin and Richard Farley of Atco Brokerage Services, represented both the landlord and tenant in the transaction. Asking rents in the building are $56 per square foot.
In addition to Hot in Here Inc., other major tenants at 240 West 35th Street include Paris-based luxury goods company Diptyque, nonprofit organization the Citizens Budget Commission (CBC), award-winning men’s fashion and eyewear designer Thom Browne, high-end fashion designer Jason Wu, award-winning theatrical production company, The New Group, and technology company Fidelus Technology. The property is also home to the Latin-American restaurant, Café Nunez, and Irish pub Jack Doyle’s on the ground floor.
According to Mr. Cinosky, only 15,884 square feet remains available for lease, in sizes ranging from 500 square feet to a full floor of 10,100 square feet.
About ATCO
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on creating value through placemaking and other strategies in urban locations. ATCO seeks to improve people’s lives by creating places where they genuinely want to work, play, or live, and by doing our work with a long-term perspective.
Through eight decades and four generations, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City and also in select markets we target. ATCO presently owns and manages more than 25 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to a mixed-use former military base. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South, 515 Madison Avenue and 240 West 35th Street. Nationally, the company owns properties in Charlotte and Chapel Hill, NC; Austin, Texas; Indianapolis, Indiana; Darien, and Westport, Connecticut. Internationally, ATCO has investments in seven European countries.
