Lease Beat

Nonprofit Publishing House Moves to 120 Wall Street

120 Wall Street

The New Press, a not-for-profit publishing house, has signed an 8,149-square-foot lease on the 31st floor of Silverstein Properties120 Wall Street.

When reached for comment, a representative of The New Press confirmed the relocation, adding that the publisher moved to 120 Wall Street from 38 Greene Street in Soho in mid-December. Silverstein Properties also confirmed the lease. Read More

Lease Beat

Nonprofit Relocates to 120 Wall Street

120_wall_street_2

The American Institute of Chemical Engineers has signed a long-term, 16,506-square-foot lease at Silverstein Properties120 Wall Street, it was announced today.

“After a two-year search of both Midtown South and Downtown, which included inspections of over 50 properties, AIChE elected to relocate to 120 Wall Street, one of the few buildings to provide an incentive program for not-for-profits,” said Leon Manoff, vice chairman at Colliers International, who represented the tenant, in a prepared statement. Read More

Lease Beat

YMCA Retirement Fund Leases 52,000 Square Feet at 120 Broadway

120 Broadway

The YMCA Retirement Fund signed a 15-year, 52,000-square-foot lease at Silverstein Properties120 Broadway, The Commercial Observer has learned.

Roger A. Silverstein and Joseph Artusa of Silverstein Properties represented the landlord. Robert D. Goodman of Colliers International represented the tenant. Asking rent was $38 per square foot.

The non-profit tenant will relocate to the full 19th floor of 120 Broadway from 48,000 square feet at 140 Broadway, which it leased in 1999 when Silverstein owned that property. Silverstein sold 140 Broadway in 2004. Read More

Post-Tropical Storm Sandy

Silverstein Properties Reopens 120 Wall

120 Wall Street (Credit: Silverstein Properties)

Silverstein Properties reopened 120 Wall Street Wednesday morning for the first time since Hurricane Sandy flooded the 600,000-square-foot building’s basement and damaged electrical distribution equipment.

The company pumped more than one million gallons of water out from the building’s basement and removed contaminants before methodically checking all base systems to get them back up and running, Jeremy Moss, the firm’s vice president of leasing told The Commercial Observer.

“Since the storm we’ve been working around the clock to get the building up and running and to bring tenants back – we succeeded this morning at 8 a.m,” Mr. Moss said. Read More

Lease Beat

Duane Reade Commits to Big Office Relocation at Trump's 40 Wall Street

40 Wall Street. (Courtesy Property Shark)

New York City drugstore pharmacy giant Duane Reade has agreed to relocate its corporate offices to 40 Wall Street, the same Trump Organization-owned office tower that already houses its sushi-serving, hair-styling flagship megastore.

Duane Reade will be taking the 21st and 22nd floors, for a total of 54,500 square feet, inside the 72-story building. The lease is for 15 years, with asking rents in the mid-$30s per square foot, several brokers said. Read More