Oppenheimer’s Big 85 Broad Deal—More Details
In one of the largest deals to hit New York City, not to mention Lower Manhattan, in 2011 thus far, Oppenheimer & Co., the national financial services firm, made good on long-time rumors yesterday by finally announcing its buzzed-about 270,000-square-foot, 15-year transaction at 85 Broad Street, the old Goldman Sachs HQ that The Observer profiled in 2009.
To be sure, the group will occupy seven floors of the MetLife-owned, 30-story building as soon as the fourth quarter of this year, brokers said. As such, the firm will move its corporate headquarters into the building and consolidate all of its business lines from 300 Madison Avenue and 125 Broad Street into one location, including its Asset Management, Investment Banking and Trading and Capital Markets divisions.
Matthew Astrachan, Steven Bauer, Mitch Konsker and Jon Herman represented Oppenheimer in the transaction. Although the deal was developed while Mr. Konsker and Mr. Astrachan worked at Cushman & Wakefield, both are now vice chairmen at Jones Lang LaSalle (Mr. Herman continues to be a managing director in Cushman & Wakefield’s consulting group).
Peter Riguardi, Frank Doyle, Cynthia Wasserberger and Alexis Tener of Jones Lang LaSalle represented MetLife.
“We’re excited to welcome Oppenheimer as 85 Broad’s newest tenant,” said Robert Merck of MetLife in a statement. “Having Oppenheimer in this outstanding asset, which has a number of attractive amenities and is in a prime location, reinforces 85 Broad’s prominent presence in Lower Manhattan.”