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Cresa New York | P. 1Real Estate News in Technology Report
RENT - Tech Report
Real Estate News in Technology
SoHo / NoHo
Welcome to the first ever issue of RENT:
Cresa New York’s Real Estate News in Tech Report.
SoHo and NoHo have been the live / work playground
of New York City’s artists for decades. In generous loft
spaces, these creative artists set up studios where
they painted, choreographed dances and made films.
Eventually retailers followed suit and transformed the
neighborhood into a globally renowned shopping hub.
As former manufacturing districts, SoHo and NoHo are
characterized by architecturally significant cast-iron
façade buildings. These properties feature oversized
ceiling heights, made to accommodate industrial
equipment, and enormous windows designed to flood
sunlight into the space during the gas-lamp era.
Today these beautiful 19th century buildings ­–
originally built to support the commercialization of the
neighborhood during its rise as a shopping destination
– are once again in vogue. Now in high-demand, the
open loft spaces have become an ideal destination for
growing technology, fashion and media firms looking
to develop a unique culture, retain key talent, and
capitalize on proximity to clients and competitors that
foster the innovative spirit of the area.
A potential downside to the available office product
is that due to the original design and use of these
loft buildings, as companies mature they often
must look elsewhere for growth. Problems arise
from the increased occupancy by and foot traffic of
employees, straining the infrastructure of these former
manufacturing buildings (including lack of elevators,
HVAC / electric power, connectivity, and bathrooms).
For companies growing past 100 employees, the floor
plates and building systems often dictate looking
towards neighboring TriBeCa, Downtown, or Union
Square / Flatiron.
ribeca
City Hall
Murray
Hill
Penn
Plaza/Garment
Hudson
Square
Greenwich
Village
Gramercy
Park
Plaza
District
Grand
Central
U.N
Plaza
Columbus
Circle
Times
Square
Chelsea
Soho
6THAVENUE
COOPERSQ.
LAFAYETTEST.
MIDTOWN NORTH
MIDTOWN SOUTH
DOWNTOWN
SoHo
NoHo
E 9TH ST
SoHo NoHo
Q1 2016 Q1 2015 Change Q1 2016 Q1 2015 Change
Gross Rent
Per SF $75.02 $73.86 1.67% $63.14 $59.38 6.3%
Availability
Rate 9.60% 9.70% -1.1% 5.70% 5.20% 9.6%
Available SF 498,379 504,191 -5,812 197,998 180,491 17,507
Net
Absorption -12,241 -37,024 33% -29,680 5,122 -579%
Inventory
Existing
Buildings
67 68 * 25 25 -
Existing SF 5,141,475 5,178,071 * 3,472,444 3,472,444 -
FdrDr
FinancialDistrict
InsuranceDistrict
WorldTrade
Center
Tribeca
City Hall
Murray
Hill
Penn
Plaza/Garment
Hudson
Square
Greenwich
Village
Gramercy
Park
Harlem
North/Manhattan
Upper
West Side
Upper
East Side
Plaza
District
Grand
Central
U.N
Plaza
Columbus
Circle
Times
Square
Chelsea
Soho
6THAVENUE
COO
PER
SQ.
LAFAYETTEST.
MIDTOWN NORTH
MIDTOWN SOUTH
DOWNTOWN
SoHo
NoHo
E 9TH ST
April 2016
*101 Avenue of the Americas & 233 Spring Street combined to become One SoHo Square
Cresa New York | P. 2Real Estate News in Technology Report
RENT - Tech Report
Real Estate News in Technology
SoHo / NoHo
1 2 3 4 5
Building
65 Bleecker
Street
546-548
Broadway
625 Broadway 440 Lafayette
161 Bowery
Street
Type Sublease Sublease Sublease Sublease Direct
Premises
(Rentable
Square
Feet)
Partial 4th
3,385 RSF
Partial 4th
2,900 - 4,400 RSF
Entire 2nd
8,000 RSF
Entire 6th
15,180 RSF
Entire 7th
3,300 RSF
Asking Rent
(Per Square
Foot)
$72.00 PSF $70.00 PSF $65.00 PSF $72.00 PSF $74.00 PSF
Term 3-8 Years 2-6 Years Thru 07/2019 Thru 01/2021 Negotiable
Notes
Sublease from
Regan Arts
(subsidiary of
Phaidon Global).
Open layout with
1 conference
room and access
to one additional
conference
room. Space
is a shared
opportunity and
includes shared
reception, shared
wet pantry, and
shared private
restrooms.
Sublease from
Uniqlo.
Large open area
with room for
35-40 people,
4 glass offices,
1 large
team room /
conference
room, and
wet pantry.
Space features
exposed brick,
14’ ceilings, and
wood floors.
Furniture
available.
Sublease from
Jump NY.
Space is built
with large open
area and mix
of conference
rooms / flexible
team meeting
rooms. 13’
ceilings with
floor to ceiling
windows.
Furniture
available.
Sublease from
Vision Critical.
Penthouse space
with skylights.
Large open
area (bullpen)
for 70 people
surrounded
by 2 perimeter
offices, 1 large
boardroom, and
2 phone booths.
Exposed ceilings
and wood
floors. Furniture
available.
Brand new
creative prebuilt.
Hardwood floors,
exposed brick,
open ceilings,
1 glass-fronted
conference room
and full pantry.
Space also has
exclusive access
to outdoor
roofdeck.
Floor Plan
Availabilities
Cresa New York | P. 3Real Estate News in Technology Report
RENT - Tech Report
Real Estate News in Technology
SoHo / NoHo
1 2 3 4a 4b 5
Tenant OpenX
VF Outdoor (North
Face & JanSport)
Breather Facebook AOL Kaleidoscope
Location 584 Broadway
399-401
Lafayette Street
138 Wooster Street 770 Broadway 770 Broadway 64-68 Wooster Street
Year -
Quarter 2016 - Q1 2016 - Q1 2015 - Q4 2015 - Q1 2015 - Q1 2015 - Q1
Floor Partial 8th Entire 7-8th Entire 3rd Entire 15th Entire 9th Entire 6th
Size 13,853 RSF 14,100 RSF 3,000 RSF 79,998 RSF 75,000 RSF 6,000 RSF
Type Renewal New Lease New Lease Expansion Expansion Direct New
Term 5 Years, 3 Months 10 Years 5 Years, 3 Months 9 Years 7 Years 10 Years
Starting
Rent $60.00 $63.00 $67.00 $105.00 $100.00 $72.00
GRAMERCY
FLATIRON
EAST
VILLAGE
Union
Square
Walker
Park
Stuyvesant
Sq
Washington
Square Park
Jackson
Sq
Christopher
Park
Father
Demo
Sq
Cooper
Park
Peretz Sq
Gramercy
Park
NYC Marble
Cemetery
Madison
Square
Park
CENTRESTREET
E 26TH STREET
DELANCEY STREET
BROADWAY
1STAVENUE
BOWERY
WASHINGTONSTREET
1STAVENUE
W 9TH STREET
W 17TH STREET
W 16TH STREET
W 14TH STREET
W 15TH STREET
ST MARK'S PLACE
RENWICKSTREET
E 16TH STREET
CORNELIASTREET
E 11TH STREET
E 9TH STREET
JANE STREET
JONESSTREET
E 16TH STREET
W 8TH STREET
E 22ND STREET
E 23RD STREET
E 25TH STREET
E 26TH STREET
E 18TH STREET
WASHINGTON SQUARE N
E 17TH STREET
E 16TH STREET
E 1ST STREET
FORSYTHSTREET
CHRYSTIESTREET
ALLENSTREET
DOW
NING
STREET
VANDAM STREET
GREENESTREET
WOOSTERSTREET
DOMINICK STREET
E 12TH STREET
E 13TH STREET
ELDRIDGESTREETFORSYTH
E 24TH STREET
BROADWAY
E 21ST STREET
LAGUARDIAPLACE
SULLIVANSTREET
THOMPSONSTREET
ELIZABETHSTREET
PERRY STREET
E 17TH STREET
E 15TH STREET
WASHINGTON PLACE
GREENESTREET
W 4TH STREET
MERCERSTREET
UNIVERSITYPLACE
IRVINGPLACE
WAVERLY PLACE
ROY STREET
W
AVERLYPLACE
2NDAVENUE
W 3RD STREET
STANTON STREET
BROOME STREET
W 11TH STREET
WASHINGTON SQUARE S
CARM
INESTREET
W HOUSTON STREET
CLARKSON STREET
STUYVESANT STREET
ASTOR PLACE
BLEECKER STREET
E 22ND STREET
CROSBYSTREET
E HOUSTON STREET
E 19TH STREET
W 4TH STREET
GREENWICHSTREET
SULLIVANSTREET
MACDOUGALSTREET
CHRYSTI
BANK STREET
ORCHARDSTREET
E 9TH STREET
BOND STREET
KING STREET
T
BOWERY
GREENW
ICH
AVENUE
E 10TH STREET
BROOME STREET
E 20TH STREET
E 21ST STREET
W 20TH STREET
W 22ND STREET
W 21ST STREET
E 25TH STREET
W 26TH STREET
PRINCE STREET
RIVINGTON STREET
W 19TH STREET
SPRING STREET
W 18TH STREET
GRAND STREET
WESTBROADWAY
BLEECKER STREET
GROVESTREET
WAVERLY PLACE
STREET
HSTREET
BLEECKERSTREET
BOWERY
E 8TH STREET
AVENUEOFTHEAMERICAS
ET
KENMARE STREET
BEDFORD
STREET
W
4TH
STREET
1STAVENUE
7THAVENUES
E 14TH STREET
W 10TH STREET
THOMPSONSTREET
E 23RD STREET
E 24TH STREET
3RDAVENUE
PARKAVENUE
LEXINGTONAVENUE
MADISONAVENUE
5THAVENUE
W 25TH STREET
W 24TH STREET
8THAVENUE
7THAVENUE
2NDAVENUE
3RDAVENUE
UNIONSQUAREE
E 18TH STREET
E 15TH STREET
E 14TH STREET
AVENUEOFTHEAMERICAS
5THAVENUE
E 19TH STREET
E 20TH STREET
E 17TH STREET
W 23RD STREET
8THAVENUE
7THAVENUE
6THAVENUE
UNIVERSITYPLACE
W 12TH STREET
W 13TH STREET
3RDAVENUE
E 10TH STREET
E 12TH STREET
E 13TH STREET
BROADWAY
BROADWAY
E 11TH STREET
W
11TH
STREET
W
12TH STREET
CHARLES STREET
HUDSONSTREET
BROADWAY
MERCERSTREET
5THAVENUE
7THAVENUES
GREENW
ICH
AVENUE
CHRISTOPHER STREET
W 4TH STREET
W WASHINGTON PLACE
GREAT JONES STREET
E 2ND STREET
2NDAVENUE
W HOUSTON STREET
HUDSONSTREET
ET
W
10TH
STREET
H
STREET
WESTSTREET
WASHINGTONSTREET
GREENWICHSTREET
HUDSONSTREET
CHARLTON STREET
W HOUSTON STREET
VARICKSTREET
SPRING STREET
MERCERSTREET
AVENUEOFTHEAMERICAS
BROOME STREET
PRINCE STREET
SPRING STREET
BROADWAY
MULBERRYSTREET
MOTTSTREET
LAFAYETTESTREET
LAFAYETTESTREET
CROSBYSTREET
ALLENSTRE
ELDRIDGEST
GRAND STREET
GRAND STREET
WATTS STREET
CANAL STREET
EET
TREET
ADWAY
BARROW
STREET
STREET
6THAVENUE
LAFAYETTESTREET
HOLLAND
TUNNEL
UNIONSQUAREW
1STAVENUE
2NDAVENUE
3RDAVENUE
4THAVENUE
7THAVENUE
E 7TH STREET
E 6TH STREET
AVENUEOFTHEAMERICAS
E 5TH STREET
E 4TH STREET
E 3RD STREET
BEDFORD
STREET
ST LUKE'S PLACE
PRINCE STREET
SPRING STREET
BROOME STREET
BLEECKER STREET
W 3RD STREET
BLEECKER STREET
5THAVENUE
8THAVENUE
BLEECKER STREET
BROADWAY
CANAL
E HOUSTON STREET
13
881 B'way115 Fifth
584 B'way
180
Varick
115
W 18
48
W 25
28
W
23
116
928
135
138
W 25
37
W 26
205
304
Hudson
119Fifth
532
B'way
49
19
W 21
236
W 27
920
333
Hudson
250
Park S
133
W 21
27
W 24
104
E 25
873
B'way
381
Park S
270
Laf
251
Park S
41 U Sq W
24
E
21
546 B'way
137
E
25
145
AofA
1115
B'way
635 AofA
476 B'way
199
-203
Laf
350
Hudson
130
Prince
249
W
17
149
Wooster
610 B'way
315
Park S
116
E 27
22
W 27
120
Wooster
22
W
19
580 B'way
90
Fifth
636
AofA
400
Laf
33
W
17
1123
B'way
131
Varick
419
Broome
110 Greene
24
560 B'way
151
W 26
91 Fifth
38
E 19
39
W 19
35
E 21
104
147
W 22
114
W 26
Post
Office
440
Lafayette
838 B'way
915
B'way
43
79
Fifth
18
W
18
599 B'way
245
W
17
127
W 25
40
W 25
740
B'way
360
Park S
609
Green
-wich
257
Park S
233
Park S
373
235
142
W 24
330
Hudson
935
B'way
300
Park S
230
W 17
924
45
E 20
54
W 21
5 W 19
500
Green
-wich
841
B'way
20
Cooper
Sq
100
Varick 480 B'way
770 B'way
151
345
Park
S
22
W 21
345
Hudson
113
137
175
Varick
14 E 4
27
W 20
166
100 Fifth
495 B'way
100
AofA
40
Thompson
666 B'way
80
Fifth
670
B'way
135
W 18
826
B'way
162 Fifth
120
325
Hudson
520
121
Varick
417
Canal
147
24-32
U Sq E
230 Fifth
200
Varick
Ecko
40
W 23
462
B'way
67
220
632 B'way
110 Fifth
75 Prince
1107
B'way
220
W 19
215
Park S
20
W 22
907
331
19
150
Varick
185
Varick
902
B'way
415 W
B'way
395 W
B'way
379 W B'way
53
88 U Pl
156 Fifth
212 Fifth
18
E
16
561
28
122
W 27
130
Fifth
101
Fifth
525
19
U Sq W
104
W 27
524 B'way
536
7
E 15
25
E 22
New
School
5-9 U
Sq W
122 Fifth
853
25
105
E 17
230
Park S
900
B'way
27
W 23
1133
B'way
315
Hudson
100
Vandam
622 B'way
225
Varick
220
E 23
118
726-730
B'way
2-10 Astor
114
287
Park S
897
B'way
860
B'way
72
Spring
56
W 22
73
Spring
936
B'way
44
W
18
139 Fifth
221
W
17
27
41
W
25
126
85 Fifth
304
Park S
117
E 24
250
Hudson
57-
59
E 11
30
Vandam
114 Fifth
152
W 25
71
Fifth
322
Eighth
137
Varick
411
Laf
216
W
14
155
W 23
1140
161
AofA
555 B'way
28
E 23
641
AofA
435
Hudson
627 B'way
16
W
22
37
E 18
149 Fifth
15 U
Sq W
675
AofA
95
Morton
821
817
B'way
620 AofA
154
W 14
115
E 23
625 B'way
155
AofA
8
W
14
594 B'way
11
E
26
12
W 27
11
W
19
233
Spring
262
Mott
207
W 25
15
E
26
Credit Suisse
11 Mad
Audubon
Bldg
700
Zeckendorf
Towers
10 U Sq E
40
W 14
121
AofA
Tri-State
Coll
80 Eighth
32 BJ
101
AofA
109
E 16
Constable Bldg
111 Fifth
10 Hud Sq
170 Varick
Con Edison
4 Irving Pl
New York Life
51 Mad
Scholastic
557 B'way
550-560
Washington
St John's
Center
340 West
Puck
Bldg
295
Laf
NY Merchds
Mart
41 Mad
Cable Bldg
611 B'way
395 Hudson
Mn
Village
Acad
50 W 23
Pratt
Inst
Met Life Tower
1 Mad
Forbes
60 Fifth
Time
Warner
120
E
23
Village Voice
36 Cooper Sq
UPS
325
Spring
1 Hudson Sq
75 Varick
10 Hud Sq
160 Varick
Bobst
Library
575
B'way
375 Hudson
EMI
150 Fifth
Flatiron
175
Fifth
Grace
Ch
Police Academy
Police
Dept
City-As-Sch
PS 721
St
Georges
Ch
Holy
Trinity
Ch
LaSalle
Acad
Allerton
Hotel
FDNY
Museum
New York University
Ascension
Ch
New
School
5th Ave
Consv
Synag
Public
Library
Public
Theatre
Police
Dept
National
Shrine
St Ann
Slavic
Christ
Ch
s
n
h
Holy
Trin
Ukr
Orth
St
Cyril's
Ch
Comm
Synag
PS 41 St
Marks
W Irving
HS
Most
Holy
Crucifix
Fire
Dept
St Joseph's
Ch & Sch
Luth
Ch
Fire
Dept
PS 226
Future
HS
Our Lady
of Vilnius
Public
Library
Nativity
Mission
Sch
Salvation
Army
Pioneer
First
Christ
Ch
Fire
Dept
Police
Dept
NY Eye
& Ear
Infirmary
96
Morton
Friends
Sem
Fire
Dept
Hebrew
Union Coll
Darech
Amuno
Synag
PS 751
Public
Library
St John
Baptist Gr
Orth Ch
PS 19
Prince
Hotel
St
Vincent's
Hospital
New York University
Roosevelt
Birthplace
Sch
Industry
City &
Country
ES
Chelsea
Voc HS
Chr
Luth
Ch
Post
Office
Moshe
Synag
Baruch
College
Fire
Dept
Epiphany
ES
Vanderbilt
Hall
All Sts
Ukrainian
Orth Ch
Fire
Dept
Parson
School
of Design
Public
Library
Fire
Dept
St Francis
Xavier
Ch & Sch
Washington
Sq Hotel
St
Patrick
Sch
PS 47
St Vincent's
Hospital
Fashion
Ind HS
Post
Office
Young
Israel
Synag
Hotel
17
NYS Court
of Appeals
Little Red
Schoolhouse
St
George
Acad
Tifereth
Israel
St Marks
Bouwerie
Ch
Nazareth
Nrsy Sch
Hotel
Chelsea
1st
Ukrainian
St
Mary's
Cath Ch
W
Hotel
Fire
Dept
Cooper
Union
Jackson
Acad
648
Sch
Visual
Arts
Milk HS
Gateway
Sch NY
Brother
-hood
Synag
St Johns
Evang
Epiph Ch
St Vincent
dePaul Ch
Cabrini
Medical
Center
PS 40
MS 255
Cascade
Ctr
Patrick's
Cathedral
Emun
-ath
Israel
Village
Com
ES
St
Anthony
ES
Off
SoHo
Suites
Union Sq
Theater
JHS 104
Natl
Arts
Club
Hospital
for Joint
Disease
Night
& Day
HS
Bloom-
ingdale's
SoHo
Ch of the
Immac
Concep
-tion
PS 3
Our
Lady of
Guadalupe
Liberty
HS
New
School
Univ
PS 63
NY
Foundling
US
Federal
Building
Chelsea
Savoy
Calvary
Ch
Our Lady
Pompeii ES
NYU
Village
Temple
Chelsea
Int'l
Public
Library
First
Presb
Ch
275
Seventh
226
W 26
71
W 23
119
W 24
352
Park S
380
Second
200
Park S
225
Park S
72
1
65
Bleecker
399
Laf
490
NYC
Health
Dept
NYU
Sch of
Medicine
NYU
Dental
Center
22
W
23
Post
Office
150
W 22
118
W 22
36
Gramercy
Park Hotel
Sch
Visual
Arts
35
-45
Irving
55
Fifth
Kimmel
Center
NYU
NYU
NYU
NYU
Kaufman
Center
Tisch
Hall
NYU
NYU
Museum
Contemp
Art
NYU
Washington
Village
NYU
Silver
Towers
NYU
Coles
Sports &
Recreation
Center
St
Vincent's
Hospital
Bowery Hotel
St Sava
Serbian
Cathedral
69th
Regiment
Armory
Baruch
College
Veterans
Administration
Medical Center
Baruch
College
St
Vincent
dePaul
Ch
Beth Israel
Medical Center
33
Irving
Pl
30
Irving
Pl
New
Design
HS
Cooper
Union
Cooper
Union
St
Luke
ES
Mondrian
SoHo
1
Recent Deals Comps
5
3
2
4
Cresa New York | P. 4Real Estate News in Technology Report
RENT - Tech Report
Real Estate News in Technology
SoHo / NoHo
Select Clients
Cresa New York
1633 Broadway
22nd Floor
New York, NY 10019
212.758.3131
Even though obtained from sources deemed reliable, no warranty or representation, express or implied, is made as to the
accuracy of the information herein, and it is subject to errors, omissions, change of price, rental or other conditions, withdrawal
without notice, and to any special listing conditions imposed by our principals.
Cresa is an international corporate real estate advisory firm that
exclusively represents tenants and specializes in the delivery of fully
integrated real estate services, including: Transaction Management,
Project Management, Strategic Services, Corporate Solutions, Site
Selection, Lease Administration, Capital Markets, Mission Critical
Solutions, Relocation Management, and Facilities Management. For
more information, visit www.cresa.com/newyork.
Jonathan Buksbaum
Vice President
Direct: 212-687-4206
Cell: 917-623-5252
JBuksbaum@cresa.com
Peter Brestovan
Vice President
Direct: 212-687-4361
Cell: 203-331-6123
PBrestovan@cresa.com
For more information:
cresa
AT A GLANCE
Our Firm’s Values
Integrity
Partnership
Entrepreneurship
We are guided by the principle
Do the
right thing.
US Locations
Canadian Locations
We have over 50 offices in North America, each providing tenant-
focused, integrated commercial real estate and consulting services.
Cresa is the world’s largest tenant-only commercial real estate firm.
In 2015 we provided unbiased, conflict-free advice for over
950 Highly collaborative
& entrepreneurial staff.
59% Transaction Management
13% Project Management
8% Consulting Services
20% Administrative
Continuing to rank in the top 3
for service metrics and #1 in
client satisfaction according
to the Watkins Research Group.
Cresa is one of the
Top Commercial
Real Estate Firms
83%
clientsatisfactionrating
North American Revenue
Exceeded $290 Million
in 2015.
59,779,283
776
Cities Globally
61
Industries
2,121
Clients
SF of transactions
spanning
In the News:
Click to read full article
1. 4 Questions About
How to Broker for
Tech Tenants in NYC:
Buksbaum – Hightower
Blog Interview
2. Silicon Valley Bank US
Startup Outlook 2016
3. Glut of sublease space
hits SF market:
Will NYC be next?
4. State of the Startup
Economy
(End of Q1 2016)
Our integrated approach ensures
intelligent decisions.
Cresa tenant advisors work in integrated teams, drawing on their experiences in a
wide range of industries. Our three core services—Strategic Planning, Transaction
Management, and Project Management—all tap into best-in-class ideas we’ve adopted
to help ensure successful outcomes. Our team of experienced professionals will work
with you to deliver the full spectrum of services—from strategy to transaction to project
implementation—in a disciplined, tenant-focused manner.
Strategic
Planning
Schedule
Demographics
Budget/Incentives
Image
Needs Assessment
Programming
Amenities
Location
Transaction
Management
Feasibility Planning
Landlord RFPs
Market Study
Tours
Financial Analysis
Negotiations
Contract
Execution
Project
Management
Plans
Permits
Budget
Schedule
Vendors
Voice/Data
Coordinate Installs
Relocation Management
Designers
Contractors
About Cresa
cresa
AT A GLANCE
m’s Values
ship
We are guided by the principle
Do the
right thing.
offices in North America, each providing tenant-
d commercial real estate and consulting services.
’s largest tenant-only commercial real estate firm.
ed unbiased, conflict-free advice for over
950 Highly collaborative
 entrepreneurial staff.
59% Transaction Management
13% Project Management
8% Consulting Services
20% Administrative
Continuing to rank in the top 3
for service metrics and #1 in
client satisfaction according
to the Watkins Research Group.
Cresa is one of the
Top Commercial
Real Estate Firms
83%
clientsatisfactionrating
North American Revenue
Exceeded $290 Million
in 2015.
79,283
776
Cities Globally
2,121
Clients
SF of transactions
spanning
cresa
AT A GLANCE
Our Firm’s Values
Integrity
Partnership
Entrepreneurship
We are guided by the principle
Do the
right thing.
US Locations
Canadian Locations
We have over 50 offices in North America, each providing tenant-
focused, integrated commercial real estate and consulting services.
Cresa is the world’s largest tenant-only commercial real estate firm.
In 2015 we provided unbiased, conflict-free advice for over
950 Highly collaborative
 entrepreneurial staff.
59% Transaction Management
13% Project Management
8% Consulting Services
20% Administrative
Continuing to rank in the top 3
for service metrics and #1 in
client satisfaction according
to the Watkins Research Group.
Cresa is one of the
Top Commercial
Real Estate Firms
83%
clientsatisfactionrating
North American Revenue
Exceeded $290 Million
in 2015.
59,779,283
776
Cities Globally
61
Industries
2,121
Clients
SF of transactions
spanning
AT A GLANCE
Our Firm’s Values
Integrity
Partnership
Entrepreneurship
We are guided by the principle
Do the
right thing.
US Locations
Canadian Locations
We have over 50 offices in North America, each providing tenant-
focused, integrated commercial real estate and consulting services.
Cresa is the world’s largest tenant-only commercial real estate firm.
In 2015 we provided unbiased, conflict-free advice for over
950 Highly collaborative
 entrepreneurial staff.
59% Transaction Management
13% Project Management
8% Consulting Services
20% Administrative
Continuing to rank in the top 3
for service metrics and #1 in
client satisfaction according
to the Watkins Research Group.
Cresa is one of the
Top Commercial
Real Estate Firms
83%
clientsatisfactionrating
North American Revenue
Exceeded $290 Million
in 2015.
59,779,283
776
Cities Globally
61
Industries
2,121
Clients
SF of transactions
spanning

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RENT Report - Tech Newsletter - SOHO - NOHO

  • 1. Cresa New York | P. 1Real Estate News in Technology Report RENT - Tech Report Real Estate News in Technology SoHo / NoHo Welcome to the first ever issue of RENT: Cresa New York’s Real Estate News in Tech Report. SoHo and NoHo have been the live / work playground of New York City’s artists for decades. In generous loft spaces, these creative artists set up studios where they painted, choreographed dances and made films. Eventually retailers followed suit and transformed the neighborhood into a globally renowned shopping hub. As former manufacturing districts, SoHo and NoHo are characterized by architecturally significant cast-iron façade buildings. These properties feature oversized ceiling heights, made to accommodate industrial equipment, and enormous windows designed to flood sunlight into the space during the gas-lamp era. Today these beautiful 19th century buildings ­– originally built to support the commercialization of the neighborhood during its rise as a shopping destination – are once again in vogue. Now in high-demand, the open loft spaces have become an ideal destination for growing technology, fashion and media firms looking to develop a unique culture, retain key talent, and capitalize on proximity to clients and competitors that foster the innovative spirit of the area. A potential downside to the available office product is that due to the original design and use of these loft buildings, as companies mature they often must look elsewhere for growth. Problems arise from the increased occupancy by and foot traffic of employees, straining the infrastructure of these former manufacturing buildings (including lack of elevators, HVAC / electric power, connectivity, and bathrooms). For companies growing past 100 employees, the floor plates and building systems often dictate looking towards neighboring TriBeCa, Downtown, or Union Square / Flatiron. ribeca City Hall Murray Hill Penn Plaza/Garment Hudson Square Greenwich Village Gramercy Park Plaza District Grand Central U.N Plaza Columbus Circle Times Square Chelsea Soho 6THAVENUE COOPERSQ. LAFAYETTEST. MIDTOWN NORTH MIDTOWN SOUTH DOWNTOWN SoHo NoHo E 9TH ST SoHo NoHo Q1 2016 Q1 2015 Change Q1 2016 Q1 2015 Change Gross Rent Per SF $75.02 $73.86 1.67% $63.14 $59.38 6.3% Availability Rate 9.60% 9.70% -1.1% 5.70% 5.20% 9.6% Available SF 498,379 504,191 -5,812 197,998 180,491 17,507 Net Absorption -12,241 -37,024 33% -29,680 5,122 -579% Inventory Existing Buildings 67 68 * 25 25 - Existing SF 5,141,475 5,178,071 * 3,472,444 3,472,444 - FdrDr FinancialDistrict InsuranceDistrict WorldTrade Center Tribeca City Hall Murray Hill Penn Plaza/Garment Hudson Square Greenwich Village Gramercy Park Harlem North/Manhattan Upper West Side Upper East Side Plaza District Grand Central U.N Plaza Columbus Circle Times Square Chelsea Soho 6THAVENUE COO PER SQ. LAFAYETTEST. MIDTOWN NORTH MIDTOWN SOUTH DOWNTOWN SoHo NoHo E 9TH ST April 2016 *101 Avenue of the Americas & 233 Spring Street combined to become One SoHo Square
  • 2. Cresa New York | P. 2Real Estate News in Technology Report RENT - Tech Report Real Estate News in Technology SoHo / NoHo 1 2 3 4 5 Building 65 Bleecker Street 546-548 Broadway 625 Broadway 440 Lafayette 161 Bowery Street Type Sublease Sublease Sublease Sublease Direct Premises (Rentable Square Feet) Partial 4th 3,385 RSF Partial 4th 2,900 - 4,400 RSF Entire 2nd 8,000 RSF Entire 6th 15,180 RSF Entire 7th 3,300 RSF Asking Rent (Per Square Foot) $72.00 PSF $70.00 PSF $65.00 PSF $72.00 PSF $74.00 PSF Term 3-8 Years 2-6 Years Thru 07/2019 Thru 01/2021 Negotiable Notes Sublease from Regan Arts (subsidiary of Phaidon Global). Open layout with 1 conference room and access to one additional conference room. Space is a shared opportunity and includes shared reception, shared wet pantry, and shared private restrooms. Sublease from Uniqlo. Large open area with room for 35-40 people, 4 glass offices, 1 large team room / conference room, and wet pantry. Space features exposed brick, 14’ ceilings, and wood floors. Furniture available. Sublease from Jump NY. Space is built with large open area and mix of conference rooms / flexible team meeting rooms. 13’ ceilings with floor to ceiling windows. Furniture available. Sublease from Vision Critical. Penthouse space with skylights. Large open area (bullpen) for 70 people surrounded by 2 perimeter offices, 1 large boardroom, and 2 phone booths. Exposed ceilings and wood floors. Furniture available. Brand new creative prebuilt. Hardwood floors, exposed brick, open ceilings, 1 glass-fronted conference room and full pantry. Space also has exclusive access to outdoor roofdeck. Floor Plan Availabilities
  • 3. Cresa New York | P. 3Real Estate News in Technology Report RENT - Tech Report Real Estate News in Technology SoHo / NoHo 1 2 3 4a 4b 5 Tenant OpenX VF Outdoor (North Face & JanSport) Breather Facebook AOL Kaleidoscope Location 584 Broadway 399-401 Lafayette Street 138 Wooster Street 770 Broadway 770 Broadway 64-68 Wooster Street Year - Quarter 2016 - Q1 2016 - Q1 2015 - Q4 2015 - Q1 2015 - Q1 2015 - Q1 Floor Partial 8th Entire 7-8th Entire 3rd Entire 15th Entire 9th Entire 6th Size 13,853 RSF 14,100 RSF 3,000 RSF 79,998 RSF 75,000 RSF 6,000 RSF Type Renewal New Lease New Lease Expansion Expansion Direct New Term 5 Years, 3 Months 10 Years 5 Years, 3 Months 9 Years 7 Years 10 Years Starting Rent $60.00 $63.00 $67.00 $105.00 $100.00 $72.00 GRAMERCY FLATIRON EAST VILLAGE Union Square Walker Park Stuyvesant Sq Washington Square Park Jackson Sq Christopher Park Father Demo Sq Cooper Park Peretz Sq Gramercy Park NYC Marble Cemetery Madison Square Park CENTRESTREET E 26TH STREET DELANCEY STREET BROADWAY 1STAVENUE BOWERY WASHINGTONSTREET 1STAVENUE W 9TH STREET W 17TH STREET W 16TH STREET W 14TH STREET W 15TH STREET ST MARK'S PLACE RENWICKSTREET E 16TH STREET CORNELIASTREET E 11TH STREET E 9TH STREET JANE STREET JONESSTREET E 16TH STREET W 8TH STREET E 22ND STREET E 23RD STREET E 25TH STREET E 26TH STREET E 18TH STREET WASHINGTON SQUARE N E 17TH STREET E 16TH STREET E 1ST STREET FORSYTHSTREET CHRYSTIESTREET ALLENSTREET DOW NING STREET VANDAM STREET GREENESTREET WOOSTERSTREET DOMINICK STREET E 12TH STREET E 13TH STREET ELDRIDGESTREETFORSYTH E 24TH STREET BROADWAY E 21ST STREET LAGUARDIAPLACE SULLIVANSTREET THOMPSONSTREET ELIZABETHSTREET PERRY STREET E 17TH STREET E 15TH STREET WASHINGTON PLACE GREENESTREET W 4TH STREET MERCERSTREET UNIVERSITYPLACE IRVINGPLACE WAVERLY PLACE ROY STREET W AVERLYPLACE 2NDAVENUE W 3RD STREET STANTON STREET BROOME STREET W 11TH STREET WASHINGTON SQUARE S CARM INESTREET W HOUSTON STREET CLARKSON STREET STUYVESANT STREET ASTOR PLACE BLEECKER STREET E 22ND STREET CROSBYSTREET E HOUSTON STREET E 19TH STREET W 4TH STREET GREENWICHSTREET SULLIVANSTREET MACDOUGALSTREET CHRYSTI BANK STREET ORCHARDSTREET E 9TH STREET BOND STREET KING STREET T BOWERY GREENW ICH AVENUE E 10TH STREET BROOME STREET E 20TH STREET E 21ST STREET W 20TH STREET W 22ND STREET W 21ST STREET E 25TH STREET W 26TH STREET PRINCE STREET RIVINGTON STREET W 19TH STREET SPRING STREET W 18TH STREET GRAND STREET WESTBROADWAY BLEECKER STREET GROVESTREET WAVERLY PLACE STREET HSTREET BLEECKERSTREET BOWERY E 8TH STREET AVENUEOFTHEAMERICAS ET KENMARE STREET BEDFORD STREET W 4TH STREET 1STAVENUE 7THAVENUES E 14TH STREET W 10TH STREET THOMPSONSTREET E 23RD STREET E 24TH STREET 3RDAVENUE PARKAVENUE LEXINGTONAVENUE MADISONAVENUE 5THAVENUE W 25TH STREET W 24TH STREET 8THAVENUE 7THAVENUE 2NDAVENUE 3RDAVENUE UNIONSQUAREE E 18TH STREET E 15TH STREET E 14TH STREET AVENUEOFTHEAMERICAS 5THAVENUE E 19TH STREET E 20TH STREET E 17TH STREET W 23RD STREET 8THAVENUE 7THAVENUE 6THAVENUE UNIVERSITYPLACE W 12TH STREET W 13TH STREET 3RDAVENUE E 10TH STREET E 12TH STREET E 13TH STREET BROADWAY BROADWAY E 11TH STREET W 11TH STREET W 12TH STREET CHARLES STREET HUDSONSTREET BROADWAY MERCERSTREET 5THAVENUE 7THAVENUES GREENW ICH AVENUE CHRISTOPHER STREET W 4TH STREET W WASHINGTON PLACE GREAT JONES STREET E 2ND STREET 2NDAVENUE W HOUSTON STREET HUDSONSTREET ET W 10TH STREET H STREET WESTSTREET WASHINGTONSTREET GREENWICHSTREET HUDSONSTREET CHARLTON STREET W HOUSTON STREET VARICKSTREET SPRING STREET MERCERSTREET AVENUEOFTHEAMERICAS BROOME STREET PRINCE STREET SPRING STREET BROADWAY MULBERRYSTREET MOTTSTREET LAFAYETTESTREET LAFAYETTESTREET CROSBYSTREET ALLENSTRE ELDRIDGEST GRAND STREET GRAND STREET WATTS STREET CANAL STREET EET TREET ADWAY BARROW STREET STREET 6THAVENUE LAFAYETTESTREET HOLLAND TUNNEL UNIONSQUAREW 1STAVENUE 2NDAVENUE 3RDAVENUE 4THAVENUE 7THAVENUE E 7TH STREET E 6TH STREET AVENUEOFTHEAMERICAS E 5TH STREET E 4TH STREET E 3RD STREET BEDFORD STREET ST LUKE'S PLACE PRINCE STREET SPRING STREET BROOME STREET BLEECKER STREET W 3RD STREET BLEECKER STREET 5THAVENUE 8THAVENUE BLEECKER STREET BROADWAY CANAL E HOUSTON STREET 13 881 B'way115 Fifth 584 B'way 180 Varick 115 W 18 48 W 25 28 W 23 116 928 135 138 W 25 37 W 26 205 304 Hudson 119Fifth 532 B'way 49 19 W 21 236 W 27 920 333 Hudson 250 Park S 133 W 21 27 W 24 104 E 25 873 B'way 381 Park S 270 Laf 251 Park S 41 U Sq W 24 E 21 546 B'way 137 E 25 145 AofA 1115 B'way 635 AofA 476 B'way 199 -203 Laf 350 Hudson 130 Prince 249 W 17 149 Wooster 610 B'way 315 Park S 116 E 27 22 W 27 120 Wooster 22 W 19 580 B'way 90 Fifth 636 AofA 400 Laf 33 W 17 1123 B'way 131 Varick 419 Broome 110 Greene 24 560 B'way 151 W 26 91 Fifth 38 E 19 39 W 19 35 E 21 104 147 W 22 114 W 26 Post Office 440 Lafayette 838 B'way 915 B'way 43 79 Fifth 18 W 18 599 B'way 245 W 17 127 W 25 40 W 25 740 B'way 360 Park S 609 Green -wich 257 Park S 233 Park S 373 235 142 W 24 330 Hudson 935 B'way 300 Park S 230 W 17 924 45 E 20 54 W 21 5 W 19 500 Green -wich 841 B'way 20 Cooper Sq 100 Varick 480 B'way 770 B'way 151 345 Park S 22 W 21 345 Hudson 113 137 175 Varick 14 E 4 27 W 20 166 100 Fifth 495 B'way 100 AofA 40 Thompson 666 B'way 80 Fifth 670 B'way 135 W 18 826 B'way 162 Fifth 120 325 Hudson 520 121 Varick 417 Canal 147 24-32 U Sq E 230 Fifth 200 Varick Ecko 40 W 23 462 B'way 67 220 632 B'way 110 Fifth 75 Prince 1107 B'way 220 W 19 215 Park S 20 W 22 907 331 19 150 Varick 185 Varick 902 B'way 415 W B'way 395 W B'way 379 W B'way 53 88 U Pl 156 Fifth 212 Fifth 18 E 16 561 28 122 W 27 130 Fifth 101 Fifth 525 19 U Sq W 104 W 27 524 B'way 536 7 E 15 25 E 22 New School 5-9 U Sq W 122 Fifth 853 25 105 E 17 230 Park S 900 B'way 27 W 23 1133 B'way 315 Hudson 100 Vandam 622 B'way 225 Varick 220 E 23 118 726-730 B'way 2-10 Astor 114 287 Park S 897 B'way 860 B'way 72 Spring 56 W 22 73 Spring 936 B'way 44 W 18 139 Fifth 221 W 17 27 41 W 25 126 85 Fifth 304 Park S 117 E 24 250 Hudson 57- 59 E 11 30 Vandam 114 Fifth 152 W 25 71 Fifth 322 Eighth 137 Varick 411 Laf 216 W 14 155 W 23 1140 161 AofA 555 B'way 28 E 23 641 AofA 435 Hudson 627 B'way 16 W 22 37 E 18 149 Fifth 15 U Sq W 675 AofA 95 Morton 821 817 B'way 620 AofA 154 W 14 115 E 23 625 B'way 155 AofA 8 W 14 594 B'way 11 E 26 12 W 27 11 W 19 233 Spring 262 Mott 207 W 25 15 E 26 Credit Suisse 11 Mad Audubon Bldg 700 Zeckendorf Towers 10 U Sq E 40 W 14 121 AofA Tri-State Coll 80 Eighth 32 BJ 101 AofA 109 E 16 Constable Bldg 111 Fifth 10 Hud Sq 170 Varick Con Edison 4 Irving Pl New York Life 51 Mad Scholastic 557 B'way 550-560 Washington St John's Center 340 West Puck Bldg 295 Laf NY Merchds Mart 41 Mad Cable Bldg 611 B'way 395 Hudson Mn Village Acad 50 W 23 Pratt Inst Met Life Tower 1 Mad Forbes 60 Fifth Time Warner 120 E 23 Village Voice 36 Cooper Sq UPS 325 Spring 1 Hudson Sq 75 Varick 10 Hud Sq 160 Varick Bobst Library 575 B'way 375 Hudson EMI 150 Fifth Flatiron 175 Fifth Grace Ch Police Academy Police Dept City-As-Sch PS 721 St Georges Ch Holy Trinity Ch LaSalle Acad Allerton Hotel FDNY Museum New York University Ascension Ch New School 5th Ave Consv Synag Public Library Public Theatre Police Dept National Shrine St Ann Slavic Christ Ch s n h Holy Trin Ukr Orth St Cyril's Ch Comm Synag PS 41 St Marks W Irving HS Most Holy Crucifix Fire Dept St Joseph's Ch & Sch Luth Ch Fire Dept PS 226 Future HS Our Lady of Vilnius Public Library Nativity Mission Sch Salvation Army Pioneer First Christ Ch Fire Dept Police Dept NY Eye & Ear Infirmary 96 Morton Friends Sem Fire Dept Hebrew Union Coll Darech Amuno Synag PS 751 Public Library St John Baptist Gr Orth Ch PS 19 Prince Hotel St Vincent's Hospital New York University Roosevelt Birthplace Sch Industry City & Country ES Chelsea Voc HS Chr Luth Ch Post Office Moshe Synag Baruch College Fire Dept Epiphany ES Vanderbilt Hall All Sts Ukrainian Orth Ch Fire Dept Parson School of Design Public Library Fire Dept St Francis Xavier Ch & Sch Washington Sq Hotel St Patrick Sch PS 47 St Vincent's Hospital Fashion Ind HS Post Office Young Israel Synag Hotel 17 NYS Court of Appeals Little Red Schoolhouse St George Acad Tifereth Israel St Marks Bouwerie Ch Nazareth Nrsy Sch Hotel Chelsea 1st Ukrainian St Mary's Cath Ch W Hotel Fire Dept Cooper Union Jackson Acad 648 Sch Visual Arts Milk HS Gateway Sch NY Brother -hood Synag St Johns Evang Epiph Ch St Vincent dePaul Ch Cabrini Medical Center PS 40 MS 255 Cascade Ctr Patrick's Cathedral Emun -ath Israel Village Com ES St Anthony ES Off SoHo Suites Union Sq Theater JHS 104 Natl Arts Club Hospital for Joint Disease Night & Day HS Bloom- ingdale's SoHo Ch of the Immac Concep -tion PS 3 Our Lady of Guadalupe Liberty HS New School Univ PS 63 NY Foundling US Federal Building Chelsea Savoy Calvary Ch Our Lady Pompeii ES NYU Village Temple Chelsea Int'l Public Library First Presb Ch 275 Seventh 226 W 26 71 W 23 119 W 24 352 Park S 380 Second 200 Park S 225 Park S 72 1 65 Bleecker 399 Laf 490 NYC Health Dept NYU Sch of Medicine NYU Dental Center 22 W 23 Post Office 150 W 22 118 W 22 36 Gramercy Park Hotel Sch Visual Arts 35 -45 Irving 55 Fifth Kimmel Center NYU NYU NYU NYU Kaufman Center Tisch Hall NYU NYU Museum Contemp Art NYU Washington Village NYU Silver Towers NYU Coles Sports & Recreation Center St Vincent's Hospital Bowery Hotel St Sava Serbian Cathedral 69th Regiment Armory Baruch College Veterans Administration Medical Center Baruch College St Vincent dePaul Ch Beth Israel Medical Center 33 Irving Pl 30 Irving Pl New Design HS Cooper Union Cooper Union St Luke ES Mondrian SoHo 1 Recent Deals Comps 5 3 2 4
  • 4. Cresa New York | P. 4Real Estate News in Technology Report RENT - Tech Report Real Estate News in Technology SoHo / NoHo Select Clients Cresa New York 1633 Broadway 22nd Floor New York, NY 10019 212.758.3131 Even though obtained from sources deemed reliable, no warranty or representation, express or implied, is made as to the accuracy of the information herein, and it is subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Services, Corporate Solutions, Site Selection, Lease Administration, Capital Markets, Mission Critical Solutions, Relocation Management, and Facilities Management. For more information, visit www.cresa.com/newyork. Jonathan Buksbaum Vice President Direct: 212-687-4206 Cell: 917-623-5252 JBuksbaum@cresa.com Peter Brestovan Vice President Direct: 212-687-4361 Cell: 203-331-6123 PBrestovan@cresa.com For more information: cresa AT A GLANCE Our Firm’s Values Integrity Partnership Entrepreneurship We are guided by the principle Do the right thing. US Locations Canadian Locations We have over 50 offices in North America, each providing tenant- focused, integrated commercial real estate and consulting services. Cresa is the world’s largest tenant-only commercial real estate firm. In 2015 we provided unbiased, conflict-free advice for over 950 Highly collaborative & entrepreneurial staff. 59% Transaction Management 13% Project Management 8% Consulting Services 20% Administrative Continuing to rank in the top 3 for service metrics and #1 in client satisfaction according to the Watkins Research Group. Cresa is one of the Top Commercial Real Estate Firms 83% clientsatisfactionrating North American Revenue Exceeded $290 Million in 2015. 59,779,283 776 Cities Globally 61 Industries 2,121 Clients SF of transactions spanning In the News: Click to read full article 1. 4 Questions About How to Broker for Tech Tenants in NYC: Buksbaum – Hightower Blog Interview 2. Silicon Valley Bank US Startup Outlook 2016 3. Glut of sublease space hits SF market: Will NYC be next? 4. State of the Startup Economy (End of Q1 2016) Our integrated approach ensures intelligent decisions. Cresa tenant advisors work in integrated teams, drawing on their experiences in a wide range of industries. Our three core services—Strategic Planning, Transaction Management, and Project Management—all tap into best-in-class ideas we’ve adopted to help ensure successful outcomes. Our team of experienced professionals will work with you to deliver the full spectrum of services—from strategy to transaction to project implementation—in a disciplined, tenant-focused manner. Strategic Planning Schedule Demographics Budget/Incentives Image Needs Assessment Programming Amenities Location Transaction Management Feasibility Planning Landlord RFPs Market Study Tours Financial Analysis Negotiations Contract Execution Project Management Plans Permits Budget Schedule Vendors Voice/Data Coordinate Installs Relocation Management Designers Contractors About Cresa cresa AT A GLANCE m’s Values ship We are guided by the principle Do the right thing. offices in North America, each providing tenant- d commercial real estate and consulting services. ’s largest tenant-only commercial real estate firm. ed unbiased, conflict-free advice for over 950 Highly collaborative entrepreneurial staff. 59% Transaction Management 13% Project Management 8% Consulting Services 20% Administrative Continuing to rank in the top 3 for service metrics and #1 in client satisfaction according to the Watkins Research Group. Cresa is one of the Top Commercial Real Estate Firms 83% clientsatisfactionrating North American Revenue Exceeded $290 Million in 2015. 79,283 776 Cities Globally 2,121 Clients SF of transactions spanning cresa AT A GLANCE Our Firm’s Values Integrity Partnership Entrepreneurship We are guided by the principle Do the right thing. US Locations Canadian Locations We have over 50 offices in North America, each providing tenant- focused, integrated commercial real estate and consulting services. Cresa is the world’s largest tenant-only commercial real estate firm. In 2015 we provided unbiased, conflict-free advice for over 950 Highly collaborative entrepreneurial staff. 59% Transaction Management 13% Project Management 8% Consulting Services 20% Administrative Continuing to rank in the top 3 for service metrics and #1 in client satisfaction according to the Watkins Research Group. Cresa is one of the Top Commercial Real Estate Firms 83% clientsatisfactionrating North American Revenue Exceeded $290 Million in 2015. 59,779,283 776 Cities Globally 61 Industries 2,121 Clients SF of transactions spanning AT A GLANCE Our Firm’s Values Integrity Partnership Entrepreneurship We are guided by the principle Do the right thing. US Locations Canadian Locations We have over 50 offices in North America, each providing tenant- focused, integrated commercial real estate and consulting services. Cresa is the world’s largest tenant-only commercial real estate firm. In 2015 we provided unbiased, conflict-free advice for over 950 Highly collaborative entrepreneurial staff. 59% Transaction Management 13% Project Management 8% Consulting Services 20% Administrative Continuing to rank in the top 3 for service metrics and #1 in client satisfaction according to the Watkins Research Group. Cresa is one of the Top Commercial Real Estate Firms 83% clientsatisfactionrating North American Revenue Exceeded $290 Million in 2015. 59,779,283 776 Cities Globally 61 Industries 2,121 Clients SF of transactions spanning