Insurance Trade Group Relocating to Silverstein’s 120 Wall Street
The Excess Line Association of New York (ELANY) signed a lease for 14,476 square feet at 120 Wall Street, landlord Silverstein Properties announced in a company statement.
ELANY, a nonprofit that advises insurers and brokers in the excess and surplus specialty market, signed a 12-year lease for offices on the 24th floor, according to the statement. The firm will move to the building, located between Front Street and FDR Drive, next year in order to accommodate its corporate growth. It will be relocating from its current space at 55 Broadway, also known as One Exchange Plaza. The asking rent for the building was in the high-$50s per square foot.
The deal was signed on August 1, a spokesperson from Silverstein Properties said. Silverstein Properties’ Joseph Artusa and Harlan Strader handled the deal in house. Richard Levine and Adam Leshowitz of CBRE brokered the deal for the tenant.
“We are delighted to welcome ELANY to 120 Wall Street,” Artusa said. “We look forward to providing ELANY with a wonderful home to grow.”
Levine and Leshowitz declined to comment on the transaction.
The space that ELANY is moving into was previously occupied by à Lucis Trust, Society for Cosmetic Chemists and Risk Control Services, according to the spokesperson. Other tenants in the 35-story building include event marketer Pico, advertisement agency Droga5, the American Foundation for AIDS Research and Girls Inc.