Education Advocacy Organization Opening HQ at 44 Wall Street in FiDi
By Liam La Guerre October 25, 2016 3:16 pm
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Nonprofit organization Murmuration has signed a 3,681-square-foot lease at 44 Wall Street to establish its headquarters, Commercial Observer has learned.
The one-year-old organization, which advocates for children’s education by providing information and consulting, will occupy part of the fifth floor of the building between William and Nassau Streets for five years. The average asking rent in the building is in the mid-$50s per square foot, according to information provided by landlord Equity Office.
Murmuration is moving by the end of the month from its current digs in a WeWork coworking space at 379 West Broadway between Broome and Spring Streets in Soho.
“The location is ideal as it sits in the heart of the Financial District and with our upcoming renovation, this historic building will soon offer more modern amenities to better cater to our tenants,” Equity Office’s Scott Silverstein said in prepared remarks.
Silverstein and colleague Zachary Freeman represented the landlord in-house along with a CBRE team of Adam Foster, Caroline Merck, Zachary Price and Michael Rizzo. Camilo Amaya of LSL Advisors represented Murmuration. Amaya did not immediately respond to a request for comment.
Equity Office, an affiliate of Blackstone Group, acquired the 289,000 square feet building in June for $116.3 million, as CO previously reported. The purchase of 44 Wall Street was part of Blackstone’s $2.7 billion real estate portfolio buy from Norwegian investment firm Obligo. The 24-story building was constructed in 1927, and the new landlord is remodeling the lobby and constructing multiple pre-built floors, such as Murmuration’s space.
