Creative firms and expanding Downtown office tenants are taking notice of the historic 26 Broadway and its panoramic views, resulting in seven new leases totaling 126,000 square feet, according to exclusive leasing agent Newmark Grubb Knight Frank (NGKF).
“26 Broadway’s grandeur, architectural detail and rich sense of history as John D. Rockefeller’s one-time headquarters along with its sweeping views and sunlight make the building an attractive option for all types of tenants,” said NGKF Executive Managing Director Howard Kesseler, who represented ownership, The Chetrit Organization, with Associate Director Jamie Jacobs. “In addition, the Downtown rents offer a cost-efficient alternative to Midtown South but with the same great building amenities.”
The 32-story, approximately 900,000-square-foot property was built in 1885 as the Standard Oil Building. The recent leases bring the occupancy rate to 90 percent and include the following:
• The New York Film Academy signed a new, 45,000-square-foot lease. Mr. Kesseler represented the landlord and procured the tenant in the transaction. This marks an expansion from its location at 17 Battery Place.
• Digital design studio ustwo studio, Inc. signed a new, 20,000-square-foot lease with outdoor space. The firm, which is relocating and expanding significantly from Chelsea, was represented by Janet Liff of Janet Liff & Co.
• Law firm Schlam Stone & Dolan LLP signed a 20,000-square-foot renewal. Mr. Kesseler and Ms. Jacobs procured the tenant as well.
• 26 Broadway Executive Suites signed a new, 11,000-square-foot lease. It is a new/additional location for the company, also procured by Mr. Kesseler and Ms. Jacobs.
• Law firm Gladstein Keane & Flomenhaft PLLC signed a new, 11,000-square-foot lease. The new firm was represented by Travis Wilson and Adam Leshowitz of NGKF.
• Cornell University’s College of Architecture, Art and Planning signed a new, 11,000-square-foot lease. The tenant was represented by Rob Eisenberg and Mark Weiss of NGKF.
• Online restaurant ordering platform Olo.com, owned by Mobo Systems, Inc., signed a new, 8,000-square-foot lease. It is a new location for the company, which was represented by Brian Lee and Travis Wilson of NGKF.
According to Ms. Jacobs, “Two full-floors floors remain for a total of 80,000 square feet. We are currently under going a ‘creative’ prebuilt program to cater to the changing needs of the downtown marketplace.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.