Lease Beat

Davis Brody Bond Inks at 1 New York Plaza

Davis Brody Bond has signed a deal for an office in the Financial District. 

The architectural design firms will be taking 26,354-square-feet in the Brookfield Office Properties-owned 1 New York Plaza. The deal, according to data from Compstak, is set to span across a portion of the 42nd floor of the building. 

onenewyorkplaza Davis Brody Bond Inks at 1 New York PlazaLeasing efforts of the 50-story, 2.5 million-square-foot 1 New York Plaza are headed by in-house broker Duncan McCuaig along with Peter Turchin and Kenneth Rapp of CBRE. However, neither party could be reached for comment. Earlier this year, the building signed with National Futures Association, a self-regulatory organization for the derivatives industry. The firm took 36,000-square-feet on the 43rd floor of the building. 

Both deals had asking rents in the $40-50 per square foot range.

These two deals are the first to come after Hurricane Sandy flooded the lower levels of the building with 23 million gallons of water. The water was removed within a week, but the sub-level retail concourse suffered substantial damage and removed businesses like Dunin Donuts, Chase Manhattan ATM, Subway, Argent Executive Polish, and Salvatore’s Men’s Barbershop, among others.

Luckily, the retail portion of the building is relatively flexible in the sense that the tenants were either on short term and even month-to-month leases. Matt Cherry, a spokesperson for Brookfield Office Properties, told the Commercial Observer last year that “[…] even before the storm we were undergoing  retail positioning, in that sense the storm didn’t really disrupt long-term plans.”

The retail concourse is currently being marketed by Steven Baker and Kenneth Hochhauser of Winick Realty.

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