77 Water Street
Goldman Sachs, at one point America’s No. 1 source of sublease space, has handed over another small chunk of its unwanted bounty.
Several years ago, the financial giant leased 600,000 square feet at 77 Water Street, only to decide it didn’t really want to occupy the FiDi favorite. Technology consultancy Capco does. The firm will sublease 48,706 square feet, or the entire 10th and 11th floors.
The firm, which currently occupies 23,000 square feet at 120 Broadway, will move in by July. “With Capco in serious growth mode, we were able to obtain prime office space in a high quality downtown building that offers further expansion opportunities,” said CB Richard Ellis‘ Joan Meixner, who repped the tenant along with Gerry Miovski. “This move allows Capco to maintain its culture and profile in the Wall Street community.”
There are still two contiguous blocks of 230,000 and 280,000 square feet available in the building, according to MrOfficeSpace.com. Terms of the deal were not disclosed, but asking rents for previous sublease deals there have been $35 per square foot, according to Crain’s.
The Cushman & Wakefield team of Louis D’Avanzo, Robert Constable, Joseph Fabrizi, Willard Overlock, Franklin Speyer and Courtney Adham represented the sublandlord.