How employers can manage benefits providers' market repositioning
Junior Achievement Of New York Secures 10K-SF Lease At 230 West 38th Street
Junior Achievement of New York has inked a 10,035-square-foot lease at 230 West 38th Street in Manhattan.
The nonprofit, a local affiliate of Junior Achievement, plans to use the entire second floor of the building as a learning center where it will specialize in teaching kids and teens about economics and entrepreneurship, according to CBRE (CBRE), which helped broker the deal on behalf of the tenant.
SEE ALSO: Popular Footwear Brand Vivaia Opens First NYC Store at 68 Prince StreetCBRE declined to provide the specific length of the lease, only saying it was a "long-term" deal. CBRE did say asking rent for the space was $38 per square foot.
"We were able to negotiate a lease that provided Junior Achievement of New York with a permanent home and the perfect space from where the nonprofit could offer its amazing training programs to the greater NYC area public school students," CBRE Senior Vice President Paul Walker, who brokered the deal for the tenant, said in a statement. "The ownership recognized Junior Achievement's long history of service to the community and made an extra effort to ensure the deal met their needs and went very smoothly."
The building's owner, Rosen Equities, was represented in the deal by Daniel Breiman of Olmstead Properties. Breiman did not respond to a request for comment.
The 18-story 230 West 38th Street, which is between Seventh and Eighth avenues and also known as Bricken Arcade, was constructed in 1928, according to CBRE. Since then the property has been completely renovated with additions including new automatic passenger elevators, a fully redesigned lobby and new windows.
Other tenants occupying 230 West 38th Street include clothing retailers Vigoss, Exquisite Apparel and equestrian outfitter The Tailored Sportsman.
Amanda Schiavo can be reached at aschiavo@commercialobserver.Com.
Top EVs You Can Lease For Under $200 A Month This October [Updated]
Who said electric vehicles are too expensive? With several EVs on sale for lease under $200 a month this October, the prices prove otherwise. Here are some of the best EV lease deals this month.
Despite talk of EV sales slowing in the US, most automakers just had a record third quarter. General Motors, Kia, Honda, and several others set EV sales records in Q3 with new models rolling out. According to Cox Automotive, electric vehicle sales rose another 8% in the US in the third quarter, reaching 9% of the total auto market. One of the biggest growth drivers is the ballooning incentives, especially for leasing. Leases accounted for 39.4% of retail EV sales in June, nearly double the industry average of 20.7%. With most automakers passing on the $7,500 IRA tax credit, many electric models are about the same or even cheaper than a gas-powered equivalent. In addition to leasing credits, conquest offers, and loyalty discounts, some EVs are available with nearly $20,000 in savings.
2024 Nissan Ariya (Source: Nissan) Despite having higher price tags, the massive incentives make it cheaper to lease an electric vehicle. With several models available for under $200 a month, including Hyundai, Nissan, and Kia EVs, October may be the perfect time to go electric. Here are some of the best EV lease deals this month (you can find deals in your area at the bottom). The Nissan LEAF continues to be one of the most affordable EVs on the market, even before discounts. Lease From Term(months) Due at Signing Effective rate per month(including up front fees) 2024 Nissan LEAF $109 36 $2,529 $179 2024 Nissan Ariya $99 36 $3,329 $238 2024 Kia Niro EV $169 24 $3,999 $336 2024 Kia EV6 $179 24 $3,999 $346 2024 VinFast VF 8 $199 36 $894 $244 2024 Hyundai IONIQ 5 $199 24 $3,999 $366 EVs for lease under $200 per month in October 2024 According to online car research firm CarsDirect, the 2024 Nissan LEAF S 40 kWh is listed for just $109 for 36 months. The deal includes $2,529 due at signing for an effective cost of $179 per month. In other parts of the US, the LEAF is still available as low as $179 per month, with $4,379 due upfront. Nissan's electric Ariya SUV is incredibly affordable to lease in many parts of the country. Despite an MSRP of around $40,000, the 2024 Nissan Ariya Engage can be leased for as low as $99 for 36 months, with $3,329 due at signing. 
2024 Hyundai IONIQ 5 (Source: Hyundai) The deal includes a $5,000 Colorado Innovative Motor Vehicle Credit, $10,000 in bonus cash, and a $1,000 loyalty bonus. The Kia Niro EV is another top EV lease option this month. You can lease a 2024 Kia Niro Wind EV for $169 for 24 months. With $3,999 due at signing, the monthly effective rate is $336. 
Kia EV6 (Source: Kia) Kia's EV6 also made the list, with leases starting at $179 per month. The 2024 Kia EV6 Light Long Range RWD is available for $179 for 24 months. With $3,999 due at signing, the monthly effective rate is $346. In other parts of the country, the EV6 is listed at $249 per month. VinFast is offering the VF 8 for $199 for 36 months. With just $894 due at signing, the lease deal is a steal at an effective monthly rate of $224, given the VF 8 Eco's $47,200 price tag. The deal is available nationwide through October 31. At under $200 a month, the Hyundai IONIQ 5 is one of the best EV lease deals this October. The 2024 Hyundai IONIQ 5 RWD SEL is offered for just $199 for 24 months despite an MSRP of $48,795. With $3,999 due at signing, the effective rate is $366 per month. 
2024 Hyundai IONIQ 5 (Source: Hyundai) Hyundai launched a new "Ultra-Fast" lease offer for the 2024 IONIQ 5. The 13-month lease option lets you upgrade it like an iPhone. To sweeten the offer, no money is due upfront. With the 2025 Chevy Equinox EV arriving at dealerships nationwide, GM is offering a sweet deal on 2024 models. With a new $1,500 cash allowance, the 2024 Chevy Equinox EV FWD 2LT is only $299 for 24 months. With $3,169 due at signing, the effective monthly cost is $431. GM claims the Chevy Equinox EV is the "most affordable EV in the US with 315+ miles range." 
Chevy Equinox EV LT (Source: GM) Other EV lease deals to consider this month include the Toyota bZ4X (from $239 per month), Honda Prologue ($259 per month), Subaru Solterra ($329 per month), and Kia's three-row EV9 ($349 per month). Ready to take advantage of the savings? The offers won't last long with many ending at the end of the month. You can use our links below to view offers in your area. FTC: We use income earning auto affiliate links. More. 
City Backs Out Of Potential Deal For 1.3M SF Bronx Warehouse After Oversight Hearing
New York City had been negotiating to buy or lease a brand-new, multistory warehouse for as much as $670M, a deal that would have been a boon to the developers that have yet to find tenants for the building and to the brokers arranging the agreement.
A rendering of the Bronx Logistics Center in the South Bronx.
But after the negotiations were revealed Tuesday during a New York City Council hearing into possible corruption in the city's real estate leasing process, the Department of Citywide Administrative Services has decided not to move forward, Crain's New York Business reported.
DCAS was in talks for the Bronx Logistics Center, a recently developed, 1.3M SF Class-A warehouse developed by Turnbridge Equities and Dune Real Estate Partners.
It would potentially have been used for the New York City Police Department or the Department of Sanitation, DCAS Commissioner Louis Molina said at Tuesday's hearing.
But the government agency said after the hearing ended that it is "not moving forward with the lease or acquisition of the Bronx Logistics Center at this time," Crain's reported.
Molina was grilled Tuesday morning on the city's discussions about the property, which was allegedly pushed by longtime ally of the mayor and the department's deputy commissioner for real estate services, Jesse Hamilton.
Council Member Lincoln Restler, who led the hearing, played part of a video in council chambers of Hamilton and other city staffers promoting the development.
Hamilton, donning a hard hat, called the Bronx Logistics Center a "phenomenal place" that could accommodate multiple city agencies and support thousands of jobs.
Molina said during Tuesday's hearing that he had never seen the video before.
"The video in question is under review," a spokesperson for DCAS told Bisnow by email Wednesday. "We can say with confidence that this was not a DCAS production and was never shared on any of our official channels."
Restler said that it seemed like a promotional video for a privately owned site, which could serve to drive a higher purchase or leasing price for the city if it were to move forward with the deal.
"I think it is bizarre and, frankly, smells funny," Restler said.
Cushman & Wakefield, which represents DCAS in leasing negotiations, stood to make as much as $13.4M in commissions from a Bronx Logistics Center deal if one went ahead.
The promotional video also features Leslie Lanne, a vice chairman at JLL. JLL secured financing for the warehouse's construction and is marketing the warehouse to prospective tenants, according to an online listing.
JLL employees contributed at least $15K to Adams' two mayoral campaigns, Gothamist reported. A spokesperson for the brokerage didn't respond to Bisnow's request for comment.
Cushman & Wakefield broker Diana Boutross, who leads the DCAS account, and Hamilton had their phones seized as part of an investigation into corruption by the Manhattan District Attorney's office in late September. They were among a group of eight friends returning from a trip to Japan when investigators took the phones.
But conversations about DCAS potentially buying or leasing the Bronx Logistics Center continued less than two weeks after Hamilton and Boutross' phones were seized, Molina confirmed at Tuesday's hearing. Boutross, Molina, Hamilton and other Cushman & Wakefield brokers had a meeting to discuss the deal Oct. 8, Molina said.
"We have a longstanding, 15-year relationship with the city that spans across multiple mayoral administrations and we are proud of the important work we've done for DCAS," a Cushman & Wakefield spokesperson said in a statement.
Dune and Turnbridge Equities formed a joint venture last year to lobby Hamilton, Gothamist reported. They have also paid lobbying firm Kasirer $98K since last year to discuss the facility with other city officials, including Sanitation Commissioner Jessica Tisch and Deputy Police Commissioner Kaz Daughtry, Crain's reported.
Turnbridge Equities didn't respond to calls or emails from Bisnow requesting comment. Dune also didn't respond to requests for comment.
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