Trinity Real Estate

The New York Review of Books is officially moving out of 1755 Broadway, joining in the stream of media firms to Hudson Square. The 45-year-old biweekly has signed a lease for 15,049 square feet at Trinity Real Estate’s 435 Hudson Street, at the northern reaches of the district.

The Review has been bumped out of its current space as fellow tenant Universal Music had expansion options built into its contract.

Our colleague Leon Neyfakh reported the pending move in December.  read more »

Jews and Episcopalians of the World, Unite!

The 92nd Street Y is moving to Tribeca. The famed Upper East Side Jewish cultural institute has landed a 15,800-square-foot lease at Trinity Church's 200 Hudson Street.

The Y will move its "Makor" and "Daytime" programs downtown. Those programs are relocating from their former uptown digs at 35 West 67th Street, which was sold to CUNY last year.

The Trinity leasing maven Jason Pizer brokered the deal, along with Janet Liff of J. Liff Co., who repped 92nd Street Y.

Now, of course, the deal means that the "the growing number of retired or semi-retired Baby Boomers" will have a comfy new "home-away-from-home," says the release.  read more »

And find the release after the jump.

- John Koblin

For years, Hudson Square has been an echo chamber of rumors. The vacancy rate is amazingly high, but brokers--especially those at Cushman & Wakefield brought in by Trinity Real Estate to shake things up--promise that will change.

In Wednesday's Times, Andy Peretz of C&W said, "We have so many deals and so many leases out, we are going to see [the vacancy rate] drop in 30 days."

Well, he's no doubt referring to the Viacom lease that The Observer reported today.

But what else out there is there for Hudson Square? Is this pending vacancy-rate plunge actually legit? Or just a bloated campaign pitch to attract more tenants?

The Real Estate will be watching closely.

- John Koblin

CBS Radio finally found its home of 75,000 square feet at 345 Hudson Street, as Real Estate Weekly reported.

But here's some new information that everyone loves: Rent numbers!

CBS will take the 10th and 11th floors with rents starting at $34.50 a square foot for the first five years, $37.25 in the next five years, $40.75 for the next five, and $43.75 for the last five, according to a source familiar with the deal. CBS will get the first five months free as well as a promise of future work on the Hudson Square space from the landlord, Trinity Real Estate.

Wonder how these numbers will affect Home Depot's strategy. The retail giant, according to various media including Real Estate Weekly, has been dragging its feet on signing a 107,000-square-foot deal at 345 Hudson.

- John Koblin

Peter Slatin says The Home Depot is close to signing a lease in a Hudson Square building owned by Trinity Real Estate, the second headline-worthy deal since Carl Weisbrod jumped to the church last summer. -Matthew Schuerman  read more »