In a transaction arranged by Marc Schoen, Brian Neugeboren and Alicia Parente of The Schoen Group at Savitt Partners, The Genesis Prize (www.genesisprize.org), a global award created to celebrate Jewish Achievement and contribution to humanity, has inked a 3,000-square-foot office lease at 1540 Broadway, The Bertelsmann Building. The organization will house its headquarters at the 44-story, Class-A office Property located in the heart of Times Square and owned by Vornado Realty Trust (NYSE: VNO). The asking rent at 1540 Broadway was $90 per square-foot.
According to Mr. Schoen, “The Genesis Prize was previously sharing office space at the property with affiliated entities. After looking at several buildings in the area,the ideal space in the tower of 1540 Broadway became available and The Genesis Prize decided to remain at the property.”
The Schoen Group at Savitt Partners team represented The Genesis Prize in the seven-year lease. Eric Deutsch and Jason Pollen of CBRE Group acted on behalf of the building ownership.
The Genesis Prize seeks to recognize individuals who have attained excellence and international renown in their chosen professional fields, and who inspire others through their dedication to the Jewish community and Jewish values. The Prize, in the amount of $1M, is endowed by the Genesis Prize Foundation and awarded annually. www.genesisprize.org
About Savitt Partners
Savitt Partners is a full-service commercial real estate company headquartered in New York City. Founded by Bob Savitt, the firm owns and/or operates a portfolio totaling nearly three million square feet of office and showroom buildings in Manhattan, including 530 Seventh Avenue, 499 Seventh Avenue, 11 West 19th Street, 218 West 40th Street, 693 Fifth Avenue, 1385 Broadway, 142 West 36th Street, 234 West 39th Street, and 525 Seventh Avenue. In addition to overseeing the leasing and management of its own assets, the firm provides superior leasing, asset and property management and investment services to other quality owners and tenants.
