December 7, 2023
, Robert Khodadadian – Commercial Observer, Robert Khodadadian
Robert Khodadadian, Skyline Properties, Commercial Observer

Canela Media has signed a deal to expand to 8,066 square feet, nearly doubling its footprint at 370 Lexington Avenue.

The media firm serving the Latino community originally leased 4,924 square feet in 2021 in the 26-story building owned by Broad Street Development. The expansion and renewal add part of the 15th floor to Canela’s footprint, according to the landlord.

The landlord did not disclose the asking rent or the length of the lease. Midtown saw an average asking rent of $82.68 per square foot in the third quarter of 2023, according to a report from CBRE.

“Located in the heart of the Grand Central District, 370 Lexington Avenue offers modern spaces that complement the building’s prewar charm,” Jack Tobin of Adams & Company Real Estate, who represented the tenant with Brett Maslin, said in a statement. “Since moving into the building in 2021, Canela Media has expanded their presence within the property twice. This location has offered the company the ideal space to run their growing business while being easily accessible from New York City’s major transportation hub.”  

Gayle Kennedy and Olivia Schrantz of Broad Street Development represented the landlord in-house and did not immediately respond to a request for comment.

Located at Lexington Avenue and East 41st Street, 370 Lexington was built in 1929. Broad Street purchased the building for $190 million in 2018 before giving it a $30 million renovation in 2019.

Mark Hallum can be reached at


Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Robert Khodadadian, skyline properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, Commercial Observer, Retail For Lease, Commercial Observer, Commercial Office Lease

Read MoreChannel, Leases, Office, 370 lexington avenue, adams & company real estate, Broad Street Development, Canela Media, CBRE, New York City, Manhattan, Adams & Company Real Estate Commercial Observer

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