Lease Beat

Covala Inks at 55 Broadway

Courtesy of Charles Holden

Courtesy of Charles Holden

55 Broadway welcomes Covala as one of its latest tenants.

The administrator of supplemental disability benefits will be taking 5,081 square feet in Broad Street Development‘s downtown building. The office is located on seventh floor of the 32 story building.

“[Covala was] looking further downtown and our efficient floor plates with only one internal column worked well for their needs,” said Ramona Huegel of Broad Street Development.

“We are building the space to suit their needs,” Mrs. Huegel added. The expect specifications were not disclosed but they Broad Street Development was able to move a demising wall around their needs.

Mrs. Huegel was joined by her colleagues David Israni and Daniel Blanco in representing Broad Street Development in-house. Eric Ferriello, a director at Colliers International, represented Covala in the transaction.

“The transactions were completed for a variety of companies, some relocating from Midtown to Downtown, and other organizations affected by Hurricane Sandy looking for permanent homes and finding great solutions through our pre-built office program,” said David Israni, senior managing director of Broad Street Development. “With competitive pricing, top quality space, and immediate occupancy available, 61 and 55 Broadway were the ideal choices for all their real estate requirements.”

Between the two properties, Mr. Israni and his team have leased more than 54,000 square feet in recent weeks, with 34,400 at 61 Broadway and the remaining 19,000 square feet at neighboring 55 Broadway.

Covala will join a few other recent leases in calling 55 Broadway their new home, including Excess Line Association of New York (ELANY), DEM Jets, and a retail tenant, FexEx.

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