New York, NY – February 7, 2019 – Cushman & Wakefield announced today that the real estate services firm has arranged a 200,000-square-foot (sf), 15-year lease in Brause Realty’s building located at 27-01 Queens Plaza North in Long Island City, Queens on behalf of ownership. The tenant in the transaction, Aramis, a division of Estee Lauder, a multinational manufacturer and marketer of beauty products, is expanding its existing footprint in the building taking additional space totaling 200,000 sf leased on the third and fourth floors – Amaris leased 100,000 sf in January and just completed another 100,000 sf transaction.
A Cushman & Wakefield team consisting of Bruce Mosler, Ethan Silverstein, Mitch Arkin and Kelli Berke represented the landlord, Brause Realty Inc., in this transaction.
“Long Island City is currently one of the most discussed submarkets in the country and is well-positioned for continued economic and population growth,” said Mitch Arkin of Cushman & Wakefield. “We are extremely pleased to have arranged this new lease on behalf of Brause Realty bringing the property’s occupancy to 100 percent.”
David Brause, President of Brause Realty, who also serves as the Long Island City BID chairman added, “Interest in Long Island City has grown immensely this year, and not only due to Amazon’s HQ2 decision. Aramis’ long-term commitment in the neighborhood is a perfect example of how companies, investors and families alike are making significant investments in Long Island City, and I think the best is yet to come. Our family is thrilled to welcome Estee Lauder into our building for this long-term commitment.”
27-01 Queens Plaza North is a 710-000-square-foot Class A office building located just over the Ed Koch Queensboro Bridge and in close proximity to the Queensboro Plaza and Queens Plaza subway stations offering access to the 7, N, W, E, M and R lines. Built by the Brewster Carriage Company in 1911 and at one time a manufacturing location for Rolls Royce cars and World War II fighter airplanes, 27-01 Queens Plaza North is a Class A, institutional quality asset ideally situated in the booming Long Island City submarket. The building features a roof deck patio, fitness center, onsite dining options, a bike room and a top quality conference center. Brause Realty has owned the building since 1980, and completely renovated and expanded it in 2003. Other tenants in the building include JetBlue Airways, WeWork and Fidelis.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.