New Jersey-Based Real Estate Investor Opening Office in FiDi
Terence Cullen July 20, 2015, 4:12 p.m.
A Jersey City-based real estate investment firm is reaching across the Hudson River for 25,000 square feet of space in the Financial District.
Dixon Advisory inked a deal for the whole 28th floor of 140 Broadway between Cedar and Pine Streets, The Real Deal reported. The firm will move into the 1.2-million-square-foot office tower at the end of the year.
The length of the lease and the asking rent weren’t immediately available, but a tenant on the 29th floor pays $51 per square foot at the 51-story building, according to CoStar.
Zachary Price and Michael Rizzo of CBRE represented Dixon Advisory. Robert Constable, Louis D’Avanzo and Willard Overlock of Cushman & Wakefield represented the landlord, German DZ Bank Group-owned Union Investment Real Estate. A CBRE spokesman didn’t immediately return a request for comment, and the C&W brokers were not immediately available.
Brown Brothers Harriman & Co., one of the oldest banks in the country, is the biggest tenant in the building with a massive 423,000 square feet across 16 floors, according to CoStar. Sizable tenants also include law firm Labaton Sucharow with 68,462 square feet and Commodity Futures Trading Commission with 50,442 square feet.
Dixon Advisory is currently based across the Hudson at the Harborside Financial Center in Jersey City, according to its website. The firm boasts ownership of almost 600 houses and roughly 2,200 rental apartments in the New York metropolitan region.