Office Space News
Jay Suites Inks Executive Office Suite Lease on Broadway
Published July 19th, 2010 by Jennifer LeClaire
Jay Suites is on the move again. The Manhattan serviced office provider just inked a 10-year deal to lease 16,000 square feet at 1370 Broadway between West 36th and West 37th streets.
Jay Suites, known for its luxury executive office suites, will take up five floors of a 240,000-square-foot Class A office building in this prestigious location. This marks Jay Suites’ third business center in Manhattan.
“Jay Suites found 1370 Broadway to be an ideal location for its third office in Manhattan,” says Sean Black, vice president, with Jones Lang LaSalle’s New York office. Jones Lang LaSalle represented Jay Suites in the deal.
“This building is surrounded by Times Square, Penn Station and the Empire State Building submarket, and provides excellent access to transportation. In addition, 1370 Broadway offered a terrific floor plate that will allow Jay Suites to deliver a program consistent with its operations strategy at rental rates that should allow them to take market share in the area.”
Meet the Neighbors
Jay Suites—and its clients—will be in good company at its new Broadway executive office suites facility. Rosenthal & Rosenthal, Esprit, Outer Stuff, Cashmerefine USA, In Group Licensing, Kohler Ronan LLC Consulting Engineers, Oleg Cassini Hosiery, R & R Financial Corp., Shayne Industries, Starwear Distributors and Wells Hosiery are among Jay Suites’ new neighbors.
“We are very excited about this project, which is the first of three more locations we plan to open by the end of the year,” says Juda Srour, president of Jay Suites. “It is great to have a location near both Penn Station and the Port Authority, since it allows easy access for our clients commuting in and out of Manhattan.” A tour and interview of Jay Suites’ current offices on Lexington Avenue was recently aired on WPIX’s Metro Residential.
A Class-A Operation
Like its other serviced office spaces, Jay Suites’ new location will offer a receptionist, conference rooms, and, of course, flexible lease terms. Jay Suites is betting that its luxury furnishings, including Italian leather chairs and well-appointed executive lobbies, will attract tenants to the location. Jay Suites is also known for its technology investments. The new executive office suites project comes equipped with VoIP phones and secure high-speed Internet.
I’ve been watching Jay Suites for nearly two years. The company makes smart leasing decisions in Class-A buildings to go along with its luxury focus. Jay Suites may not be the cheapest serviced office space operator around, but the pricing isn’t outrageous, either—and it’s still more economical than leasing long-term office space for many companies. Jay Suites is making a name for itself in Manhattan as a location of choice for entrepreneurs who don’t just want an executive office suite—they want a classy executive office suite that makes a long lasting impression.
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About the Author
Bill Brookshire July 19th, 2010 at 12:47 pm
I’ve always thought Jay Suites was cool. Some serviced office facilities are professional, but they aren’t anything to write home about. Jay Suites kicks it up a few notches. They are definitely top class all the way. Luxury is the right word. I think it’s great to see that people appreciate what they are doing on the luxury serviced office space front and that the company is growing.
Elizabeth Sanchez July 19th, 2010 at 12:56 pm
I’m surprised Jay Suites only has three executive office suites facilities in Manhattan. I thought they were bigger, for some reason. I guess they have a “big” brand. I am not sure who else is competing at the high end of the serviced office market. Jay Suites has definitely carved out a niche for itself–and it must be a profitable one if they are expanding again.
Greg Green July 20th, 2010 at 9:18 am
Jay Suites is going to become the next regus the way they are going. Great Product. Cheap Prices. Good Managment. Prime Locations.