Leases  ·  Office

Reinsurance Underwriter Sirius Group Expands at 140 Broadway


Sirius Group, a Swedish reinsurance underwriting firm, is growing its presence at Downtown’s 140 Broadway, Commercial Observer has learned.

The company signed an 8,371-square-foot deal at the 1.2-million-square-foot tower between Pine and Cedar Streets, according to sources familiar with the transaction. That’s a growth on top of the nearly 26,000 square feet Sirius Group already occupies at the 51-story, Union Investments-owned property until the early 2020s.

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Sirius Group’s new six-year lease runs through mid-2023, sources indicated. Asking rent in the deal was in the mid-$60s per square foot. The company’s expanded office is on part of the 25,221-square-foot 30th floor.

The space will be two levels below the company’s main New York City offices on the entire 32nd floor. Sirius Group signed a deal in October 2012 to relocate to the property, leaving behind One Liberty Plaza across the street, as CO reported at the time.

Louis D’Avanzo, Myles Fennon and Robert Constable of Cushman & Wakefield represented the landlord, while Adam Foster of CBRE represented the tenant. C&W declined to comment via a spokesman, as did CBRE via a spokeswoman.

Investment firm Brown Brothers Harriman anchors the 1967 building with 422,996 square feet, according to CoStar Group. DeSimone Consulting Engineers in August 2016 relocated to the whole 25,000-square-foot 25th floor, as CO first reported.