An audio production is staying at GFP Real Estate’s 200 Varick Street for at least three more years.
The all-lowercase duotone audio group, which has studios in Los Angeles and Mexico City, isn’t hitting the shift key on the length of its renewal and will remain in the same 4,633-square-foot space on the sixth floor that it has leased since 2014, according to GFP.
The landlord did not disclose the asking rent, but the average asking rent in Midtown South was about $79.90 per square foot, according to a Transwestern report on the second quarter of 2023.
Brendan O’Leary and Steven Langton of Cushman & Wakefield (CWK) negotiated on behalf of duotone audio group while Robert Silver, Brittany Silver, Anthony Sciacca and Jamie Jacobs of Newmark (NMRK) represented the landlord alongside in-house representation from Jeffrey Gural and Rhonda Singer.
C&W, Newmark and GFP did not immediately respond to a request for comment.
Located in Hudson Square at the corner of Varick and Houston streets, the 12-story building was constructed in 1927 with a design by architect Frank Parker. In 2022, GFP renovated the 490,000-square-foot structure with a new lobby, entrance and mechanical systems.
Other tenants include health care tech startup COTA, which signed for 9,764 square feet in March, and video content platform Momenti, which grabbed 4,949 square feet in February, Commercial Observer previously reported.
Mark Hallum can be reached at mhallum@commercialobserver.com.
Commercial Observer Channel, Leases, Office, 200 Varick Street, Cushman & Wakefield, duotone audio group, GFP Real Estate, Jeffrey Gural, Newmark, Transwestern, New York City, Manhattan An audio production is staying at GFP Real Estate’s 200 Varick Street for at least three more years. The all-lowercase duotone audio group, which has studios in Los Angeles and Mexico City, isn’t hitting the shift key on the length of its renewal and will remain in the same 4,633-square-foot space on the sixth floor
Robert Khodadadian has long had a simple philosophy about selling real estate. 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.
Manhattan, Commercial real estate, Sales, Property value, Investment, Property management, Real estate brokers, Tenant leasing, Rent roll, Building inspections, Due diligence, Zoning regulations, Title searches, Environmental assessments, Building codes, Market analysis, Property tax, Financing, Property appraisal, Lease negotiations, Landlord representation, Tenant representation, Net operating income, Cap rate, Cash flow, Commercial mortgage-backed securities, Appraisal value, Property redevelopment, Site selection, Leasehold improvements, Commercial property management, Lease agreements, Commercial property inspections, Tax incentives, Historic tax credits, Energy efficiency, Building amenities, Commercial property marketing, Lease renewals, Tenant retention, Property insurance, Escrow services, Closing costs, Commercial property auctions, Opportunity zones, Real estate investment trusts (REITs), Property ownership structure, Building maintenance, Real estate market trends, Property listing services, Site plans, Common area maintenance fees, Asset management, Exit strategies, Lease options, Property surveys, Site feasibility studies, Economic incentives, Equity financing, Debt financing, Property tax assessments, Building permits, Commercial property development, Subleasing, Short-term rentals, Lease buyouts, Tenant improvements, Lease assignments, Commercial tenant screening, Tenant credit analysis.