Services Provider Expands, Law Firm Renews at 17 State Street
Lauren Elkies Schram Nov. 10, 2014, 6:14 p.m.
IPsoft, which automates routine information technology and business processes, is expanding its New York City office space to seven stories from four in the Financial District. Meanwhile, law firm Bressler Amery & Ross has renewed its lease in the same building, at 17 State Street, Crain’s New York Business first reported.
IPsoft now will have 97,955 square feet in RFR Realty‘s building at the corner of State and Pearl Streets, rather than 56,000 feet.
Rob Lowe at Cushman & Wakefield represented IPsoft. RFR’s Steve Morrows, AJ Camhi and Ryan Silverman represented RFR in both deals.
Bressler Amery & Ross renewed its lease occupying floors 24 and 34, totaling 23,033 square feet.
Mr. Morrows declined to tell Crain’s the length of the leases. Lisa Kiell and John Moxley of JLL represented Bressler Amery & Ross in the transaction.
RFR acquired 17 State Street in 1999 for approximately $120 million and then completed a significant capital improvement plan which included upgrades to the building’s corridors, lobby and common areas, as Commercial Observer previously reported.
The building at 17 State Street is 42 stories and 530,000 square feet. Asking rents are in the mid-$60s per foot.
Other tenants include World Trade Financial Group and Arias Resource Capital Management, a private equity firm.