The Commercial Observer with CompStak Data: Pasta Maker’s U.S. Subsidiary Moves Downtown

Manhattan's downtown ups its "tasty" quotient.

Pasta Maker’s U.S. Subsidiary Moves Downtown

BY GUS DELAPORTE 1/28 12:30PM   De Cecco USA, the U.S. subsidiary of Italian pasta maker De Cecco, has signed a 10-year, 5,596-square-foot lease at 75 Broad StreetThe Commercial Observer has learned. The tenant will relocate from 120 East 42nd Street to the fourth floor of 75 Broad Street and pay in the mid-$30s per square foot after five months of free rent, according to data from CompStak. 75 broad street 2 Pasta Maker’s U.S. Subsidiary Moves Downtown“The search started in Midtown but we ended up Downtown because of economics,” said Ken Beilin, principal of Beilin Commercial, who represented the tenant. “Most importantly, it’s an upgrade in the type of installation and building services they had before.” The tenant, also known as Prodotti Mediterranei Inc., is expected to move in by April 1. Frank Cento, executive director at Cushman and Wakefield, who represents JEMB Realty, the landlord, also confirmed the deal but could not immediately be reached for further comment. Asking rent for the fourth floor at 75 Broad Street was $35 per square foot, according to a marketing flyer available on 42Floors. The property is in the midst of an elevator modernization program, according to the flyer, and boasts new common areas on multi-tenanted floors, among other features. Mr. Cento represented the landlord alongside Peter Cento and Carlos Suarez.