Yuco Buildings

Yuco Leases 48,000 SF at 622 Broadway to Take-Two Interactive Software

New York, New York
Friday, July 12, 2002


Yuco Real Estate Company, Inc. is pleased to announce that Take-Two Interactive Software, Inc., has leased 48,000 square feet on the entire 4th, 5th and 6th floors of 622 Broadway for its new corporate headquarters. 622 Broadway is a historic six-story, cast-iron loft building located between Houston and Bleecker Streets in the heart of NoHo/SoHo.

Yuco Real Estate was represented in the transaction by Gary S. Friedman, Esq. of Kaufman Friedman Plotnicki & Grun, LLP and by Robert A.B. Baraf, Benjamin Friedland and Glenn Isaacson of Insignia/ESG, Inc. Barry Gosin and John Lizzul of Newmark & Company Real Estate Inc. and Lloyd Shor, Esq. of Blank Rome Tenzer Greenblatt, LLP acted on behalf of Take-Two.

"We are pleased to welcome Take-Two Interactive Software to the building as they will certainly complement our existing office tenancy," said Raymond H. Yu, president of Yuco Real Estate. "I believe that our high quality renovation of the entire building and our commitment to maintaining the property in a Class A manner has been instrumental in making 622 Broadway such a highly sought-after corporate address. I would like to thank Take-Two and our respective professionals for their efforts in consummating this transaction so quickly."

"Ultimately, our team crafted a ten-year, mid-$30s-per-square-foot deal for the landlord - highly unusual in this market but a price tag worthy of the space the tenant will be occupying," said Mr. Baraf, executive managing director. "Yuco Real Estate's top-notch building upgrades have fashioned 622 Broadway into a premier Midtown South office address."

Because of the building's comprehensive renovation, 622 Broadway offers a stylish, NoHo/SoHo location with Midtown-quality space. The move-in condition floors leased by Take-Two feature an open floor plan with large skylights, conference rooms, private offices, a kitchen/lounge area, T-1 wiring, hardwood floors, large windows and high ceilings that let in ample natural light. Take-Two also has private access to a 75-foot-wide roof deck from an internal staircase within its space. The building features a new granite and marble lobby, new passenger elevators, new HVAC and fire safety systems, new bathrooms, new windows, a fully restored facade and other significant base-building amenities.

Yuco Real Estate Company Inc. is an owner/developer of commercial and residential properties throughout New York City. The Company and its affiliates provide real estate management, architectural/engineering, general contracting and maintenance services. In addition to office, residential and retail properties, the Company also offers furnished executive suite housing.