JetBlue, billed as New York’s hometown airline, made a decision fitting that name when it inked a direct lease last year to stay put at its long-term home at 27-01 Queens Plaza N. in the Long Island City neighborhood of Queens across the East River from Manhattan.
JetBlue, which occupies 225,000 square feet of space at the 700,000-square-foot plus building, had flirted with the idea of leaving its space and also was weighing moving some jobs from New York to its existing campuses in Florida after its 12-year lease expires in July.
JetBlue had been subleasing its headquarters space from insurer MetLife, which had leased the property since 2001 entirely from building owner Brause Realty.
With Brause set to regain control of the property this year, a Cushman & Wakefield team representing Brause managed to convince JetBlue to stay at its current home with a direct lease deal.
The transaction won a 2023 CoStar Impact Award for best lease of the year in the Long Island market, which CoStar defines to include Long Island City, as judged by real estate professionals familiar with the market.
About the project: The 13-story building in the Queens neighborhood was originally built in 1911 for carriage maker Brewster & Co. It also counts among tenants beauty giant Estée Lauder, according to CoStar data. Brause said last year that it would begin an $18 million renovation that included overhauling the building lobby and featuring amenities including a conference center, food hall, fitness center, bike room, club lounge, and indoor and outdoor rooftop terrace.
What the judges said: JetBlue’s “commitment to office space is a big statement in today’s post-Covid environment,” said Adam Rochlin, owner of the Rochlin Organization.
They made it happen: The Cushman & Wakefield team on the deal included Mitch Arkin, executive director; Bruce Mosler, chairman of global brokerage; Ethan Silverstein, executive vice chairman; Kelli Berke, director; Matthew Nielsen, managing director, project and development services; Richard Jantz, executive managing director; and Mike Middleton, senior director.
