Software Company Urban FT Relocating to Bigger Digs Within FiDi
By Lauren Elkies Schram October 8, 2018 10:00 am
reprints
Software company Urban FT has signed a lease to move to “a much larger space” at 48 Wall Street from its current offices at 75 Broad Street, Compass salesperson David Graff told Commercial Observer. The firm is slated to move in on Nov. 2.
Graff represented the growing tech banking sector company in its seven-year deal for 7,150 square feet on the entire 24th floor at the landmarked 48 Wall Street at the corner of William Street. The asking rent was $54 per square foot, per the building’s owner, 48 Wall, LLC, an affiliate of MacDonald & Cie.
“The space was a brand new nice pre-build and almost exactly what they wanted,” Graff emailed. “They made a few modifications. They wanted to stay in FiDi and it’s a full floor, which is always nice.”
Bryce MacDonald, the general partner at MacDonald & Cie, said in prepared remarks: “We welcome 21st century tenants to this 20th century landmark and are very proud of the leasing team’s fine work.”
Colliers (CIGI) International’s Michael Joseph and Sayo Kamara worked on behalf of the landlord. The brokers declined to comment via a spokesman.
The 34-story, 324,000-square-foot office tower opened in 1928 as the Bank of New York’s headquarters, CO previously reported. The office tower was built on land acquired in 1797 by the bank’s founder, Alexander Hamilton. MacDonald & Cie acquired the building from the Bank of New York in February 1998 for $37.5 million and completed a gut renovation in 2001.
