Norwegian Architecture Firm Grabs 80 Pine Lease
Norway-based architecture firm Snøhetta will move its New York City offices to the Rudin family’s 80 Pine Street in the Financial District, the landlord announced this morning.
The architecture company, whose first New York City project was the National September 11 Memorial Museum Pavillion at the World Trade Center site, will relocate from 25 Broadway to a segment of the 10th floor of the 38-story structure in 2015, representatives for Rudin said. Snøhetta booked a 10-year, 19,321-square-foot lease, according to Rudin’s release.
“We’re delighted that one of the elite names in international architecture has chosen 80 Pine Street as its New York headquarters,” said Bill Rudin, the chief executive officer of Rudin Management Company, in a prepared statement. “This transaction reaffirms Lower Manhattan’s growing appeal to a wide range of architectural and creative service companies and high-growth tech firms. It is also a testament to the strength of this resurgent office market, our building’s strategic location, and the Rudin Family’s ongoing commitment to the diversification of downtown New York.”
Rudin’s Tom Keating represented the landlord in-house in the transaction, while Richard Kennedy of Cushman & Wakefield negotiated on behalf of Snøhetta.
“We are genuinely excited and looking forward to our move into 80 Pine early next spring,” said Elaine Molinar, managing director of Snøhetta, in a prepared statement. “As we planned our move, one of our primary concerns was finding a landlord who values and cares for both their properties and their tenants. It became clear during our search that Rudin Management prioritizes these qualities. We are also happy to remain in Lower Manhattan and have seen the neighborhood grow more vibrant with each passing year over the last decade.”
The building, which is also known as the International Style Building, commands asking rents in the $40 to $45 per square foot range, Rudin representatives said, noting the building is 95 percent occupied. The New York Post first reported the lease.