EmblemHealth Keeps Its 440K SF Space at 55 Water Street

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Insurance provider EmblemHealth inked a deal to keep its 440,000 square foot offices at 55 Water Street for another 15 years, brokers on the deal confirmed.

SEE ALSO: EmblemHealth Expands in Flushing

EmblemHealth renewed its lease early for its 13-floor space, which it has occupied since 2003, in the 53-story building between Broad Street and Old Slip, The New York Post first reported.

A spokesman for Colliers International—which brokered the deal for EmblemHealth—declined to provide asking rents in the deal but said vacant offices in 55 Water Street had asking rents of $59 per square foot.

“As a leader in the health and wellness space, we recognized the company’s need for a space that could offer employees flexibility, privacy and diversity in terms of layout,” Colliers’ Brian Given, who represented the tenant along with Sheena Gohil, Steve Jaray and Tom Shirocky, said in a statement. “This building fits all of EmblemHealth’s criteria and continues to offer upgrades that accommodate tenants’ shifting needs, making the decision to renew an easy one for both parties.”

Howard Fiddle, Dave Caperna, Brad Gerla, Evan Haskell and Mary Ann Tighe of CBRE handled the deal for the owner, New Water Street Corp.

Fiddle said in a statement that 55 Water Street is a “spectacular” building that has “extremely large and efficient floor plates” and is “very pleased to know that EmblemHealth will be an important tenant in the building for many, many years.”

Other tenants in the 3.8-million-square-foot property include McGraw Hill Financial, pension organization the Teachers’ Retirement System of the City of New York and Hugo Boss.