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Mother New York inks lease in Gowanus

Marketing firm, Mother New York has signed a 15-year lease for 61,000 SF at Industrie Capital Partners’ development at 124 Ninth Street in Gowanus, CO first reported.

  • Be Smart: Mother had been in talks to take the space for about a year and the lease was due to close at the height of the pandemic. Terms were subsequently modified and the deal ultimately got to the finish line. The asking rent was $50 per SF.
  • Worth Noting: Although Vornado announced its massive Facebook deal earlier this week, Steve Roth cautioned that a rebound in the NYC market will be slow. The company said its holding off on doing any additional leasing at its under-development 2 Penn Plaza for at least another year. [CO]

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