Frank Hirth Renews and Expands at 88 Pine Street
Daniel Edward Rosen Aug. 29, 2012, 7 a.m.
Bean counters Frank Hirth LLC has re-upped its lease at 88 Pine Street for another 10 years, doubling its space in the process.
The international accounting firm will grow from a 6,125-square-foot space to a 13,910-square-foot footprint. Frank Hirth first moved into the building in 2009. The firm works with a host of firms both in the United Kingdom and the United States.
Michael Kaufman of the Kaufman Organization represented Frank Hirth in the deal. Frank Cento of Cushman & Wakefield represented the landlord, Orient Overseas Associates. Asking rent in the deal was $45-a-square-foot.
Frank Hirth needed to expand its offices due to “tremendous growth,” said Mr. Kaufman.
“We toured every market, basically. We toured their current market (Financial District), the Penn Station area, we toured the Midtown market, the Flatiron-Union Square market, Hudson Square and ultimately we finished up in the Financial District,” said Mr. Kaufman.
The aesthetics of Frank Hirth’s current office space was a draw. The 26th floor, double-corner space offered views of the Hudson river and the Statue of Liberty.
“Even their bullpen, where they are right now, has great views of everything,” said Mr. Kaufman.
The firm was eventually able to strike a deal to take two-thirds of the 26th floor.
The 32-story building, built in 1971, has tenants like PEI Cobb Freed & Partners, FTI Consulting, and QBE Holdings as tenants.