NEW YORK CITY – Transwestern’s New York office today announced it completed two leases at 254 West 31st St., a 15-story office building with street-level retail located at the northern boundary of Midtown South, directly across from Penn Station. Transwestern’s Lindsay Ornstein, John Grotto and Aaron Kaufman represented the owner, Brause Realty Inc.
The significant capital improvements underway include a new double height lobby, façade and entryway, elevator cabs and a proposed roof terrace. Transwestern worked closely with Melissa Brause Rackoff, vice president, and David Brause, president, of Brause Realty to market the building’s renovation and upscale pre-builts, which feature new wood floors and high, exposed ceilings.
"Today’s tenants are seeking high-quality, creative space in a coveted Midtown South location," said Ornstein, principal of Transwestern. "The redevelopments are consistent with what's driving occupancy: open and collaborative environments in high-quality boutique buildings. 254 West 31st St. is optimally positioned for tenants priced out of Midtown South proper who still want a creative work environment proximal to transportation."
Concepts in Staffing, a nationwide leader in IT consulting and IT executive search, has leased 5,240 square feet on the sixth floor. Mitchell Kunikoff of Lee & Associates NYC represented Concepts in Staffing. Universum, the global leader in employer branding, research, communication and strategic consulting services, has leased 4,110 square feet on the 12th floor. Sheena Gohil of Colliers represented Universum.
“We are pleased to welcome Concepts in Staffing and Universum to 254 West 31st St.,” said David Brause. “Transwestern has done a great job of marketing the building’s improvements and sleek, full-floor pre-builts.”
Later this week, the entire third floor consisting of 5,240 square feet will be brought to market at 254 West 31st St.
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.
Transwestern is a privately held real estate firm specializing in agency leasing, property and , tenant advisory, capital markets, development, research and sustainability. The fully integrated, global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern’s New York office on Twitter: @TranswesternNYC.
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