The Commercial Observer with CompStak Data: Publisher Signs Sublease at 1412 Broadway

Davler Media Group claims entire floor in Times Square South.

Publisher Signs Sublease at 1412 Broadway

BY GUS DELAPORTE 1/29 7:30AM   Davler Media Group has signed a 17,500-square-foot sublease from Escada at 1412 BroadwayThe Commercial Observer has learned. The publisher has committed to the entire ninth floor for six years and three months. The tenant will pay rent in the low-$40s per square foot, according to data from CompStak. Davler Media Group is expected to relocate from 1440 Broadway during the second quarter. 1-00815-0014.qKQ9TKdEFounded in 2004, Davler Media Group publishes magazines targeted at the visitor, parenting and luxury markets. The company’s publications include City Guide,Big Apple ParentPromenade and others. Located on the northeast corner of 39th Street at Broadway, 1412 Broadway boasts floor plates between 2,250 and 21,000 square feet. Built in 1926, the 400,000-square-foot tower was recently renovated by landlord Harbor Group International. The property was put on the market last year, asking $250 million, according to The New York Post. Escada, a luxury fashion group specializing in women’s clothing, renewed its lease on the ninth and 10th floors at 1412 Broadway in 2010, paying rent in the high-$30s per square foot, according to CompStak. When reached for comment, Brian Boehmcke, vice president of asset management at Harbor Group, confirmed the sublease deal. Peter NewmanRoseanne Lucarelli and Darell Handler of Handler Real Estate represented both sides in the transaction. Handler declined requests for comment.