NEW YORK — Jones Lang LaSalle has completed a new full-floor lease with Shazam Media Services at 52 Vanderbilt Avenue for Brause Realty Inc. The music identification service is the latest in a series of technology leaders to take a full floor of 9,275 square feet of commercial office space at the boutique, Class A office building.
The building owner, Brause Realty, was represented by Lloyd Desatnick, senior vice president, along with Frank Doyle, vice chairman, and Alexis Tener Petrus, vice president, all with JLL. The group worked closely with Melissa Brause Rackoff, vice president, and David Brause, president, of Brause Realty. The tenant, Shazam, was represented by Evan Margolin, senior managing director, and Lance Leighton and Gabe Marans, assistant directors, all with Studley Inc.
“JLL worked alongside Brause Realty to market the many distinctive features of 52 Vanderbilt Avenue to technology firms looking for upscale office space,” said Desatnick. “The music ID service’s new space on the 19th floor is being built out by Brause to foster natural lighting through its offices, and to highlight the exposed high ceilings.”
“Shazam was attracted by the opportunity to occupy its own floor with great light and views in a boutique-style building located in close proximity to Grand Central Station,” said Margolin. “Additionally, Shazam appreciated the Brauses’ dedication and looks forward to its tenancy in a family-owned building.”
"We are excited to welcome Shazam to 52 Vanderbilt Avenue,” said David Brause. “Our boutique office building is rapidly becoming known in the market as an emerging hub where technology and traditional companies converge. The music ID service joins premier technology firms AdLarge Media and SocialFlow, both of which recently took full floors at 52 Vanderbilt Avenue.”
Shazam will occupy the entire 19th floor at 52 Vanderbilt Avenue, which is located between East 44th and East 45th streets. The music identification service is relocating to the building from its previous offices at 230 Park Avenue. Earlier this year, social media marketing company SocialFlow signed a long-term year lease for 9,275 square feet to occupy the entire 12th floor, and media sales firm AdLarge Media inked a long-term lease for 9,275 square feet to occupy the entire seventh floor.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.
About Brause Realty Inc.
Founded in 1927, Brause Realty Inc. is a family-owned company specializing in the long-term ownership, management and of high-quality, well-located commercial real estate assets. Brause Realty owns and manages a portfolio of approximately three million square feet in the New York region, including: 52 Vanderbilt Avenue, 320 Fifth Avenue, 41 Union Square, 254 West 31st Street, 10 East 34th Street, 141 West 36th Street, and 21 West 38th Street, New York City; One MetLife Plaza, Long Island City, NY; and Congress Park Centre, Saratoga Springs, NY. See www.BrauseRealty.com for more information.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit www.jll.com.