Lease Beat, Geneva Worldwide, 7,542 square feet
01.17.2012 | Commercial Observer

Lease Beat, Geneva Worldwide, 7,542 square feet

Meanwhile, at a different building Uptown, the new owners of 256 West 38th Street signed Geneva Worldwide to 7,542 square feet for a 10-year lease.

Geneva Worldwide, a multilingual organization that provides language solutions to its tongue-tied clients, will be moving from its old offices at 261 West 35th Street to a prebuilt space in the completely revamped building, said Jonathon Yormak, a principal at East End Capital, which bought the building last summer for $30 million.

The asking price was $35 per square foot.

Geneva seized the chance to move into a building that had a revamped high-quality air conditioning and HVAC, as well as having its own floor.

“It’s an opportunity for them to brand themselves,” said Mr. Yormak.

A spokesperson for Geneva Worldwide did not return calls requesting comment.

The new landlord has so far put in $2.5million in capital improvements into the building, including new elevators, a Class E fire system and a complete upgrade to its lobby, said Mr. Yormak.

“We’re willing to turnkey space for tenants like we are for Geneva-in other words, we’ll build the space for them,” said Mr.Yormak.

Since purchasing the building, East End Capital has seen its vacancy rate drop from 50 percent to 40.

Other tenants include Gerard Yosca, a jewelry designer, and J’Envie, a woman’s clothing line.

The building is drawing a lot of tour activity and a lot of interest in the prebuilt space, he said.

“Until it’s signed in this market, nothing is done,” said Mr.Yormak.