Perseus Book Group Brings All Units Under 250 W. 57th’s Roof
By Daniel Edward Rosen March 5, 2012 11:19 am
reprintsThe Perseus Book Group, publishers of NY Times bestseller “Skinny Bitch” and “The Inspired Vegan,” has agreed to unite all of its satellite offices and bring them to the 15th floor of 250 W. 57th St.
The publisher, which had initially been leasing a 6,800 square foot space in the W&H Properties-owned building, will now be taking 26,104 square feet once it finalizes its move in July, as was first reported by Crain’s New York. Asking rent was $54 per square foot.
David Hollander and Colin Meagher, both of CBRE (CBRE), represented Perseus Book Group in the deal. Mitchell Arkin and Harry Blair of Cushman & Wakefield (CWK) represented W&H Properties.
This recent lease signing is part of W&H Properties’ current strategy to phase out smaller leases of the 400 to 500 square foot range to larger tenants.
“We’ve reduced it to a couple hundred tenants, so the hallways no longer look like Tin Pan Alley,” W&H President Anthony Malkin told Crain’s New York last week.
250 W. 57th Street had also recently underwent a capital improvement program to make the building look and feel more accommodating to a larger tenant.
Perseus Book Group, which has a variety of imprints like Basic Books and Vanguard Press, will likely be moving those imprints from office buildings like 116 E. 16th Street and 387 Park Avenue South to 250 W. 57th Street.
Also at the building, AFE Consulting, a California-based economic consulting firm, recently signed a five-year lease at 250 W. 57th Street. The 4,800 square foot office space, which will be in the 9th floor of the building, was for an asking rent of $52 per square feet.
drosen@observer.com
