Property Management Company Moving to 11K SF at 55 Broad Street
By Nicholas Rizzi October 23, 2019 3:57 pm
reprints
Solstice Residential Group, a residential property management company, will move its offices from Gramercy Park to 55 Broad Street in the Financial District, Commercial Observer has learned.
The company signed a 10-year lease for 11,047 square feet on the entire 26th floor of the Rudin family’s 30-story building between Beaver Street and Exchange Place, according to tenant brokers Avison Young. An Avison Young spokesman declined to provide asking rent, but recent deals in the property had rents ranging from $48 to $52 per square foot, as CO previously reported.
Solstice — which manages property in New York and South Florida — was founded in 2008 and plans to relocate its offices from 257 Park Avenue South, according to the brokers.
Avison Young’s Jamie Covello and Albert Wu represented Solstice in the deal while Kevin Daly of Rudin Management Company handled it in-house for the landlord.
“We are pleased to have solidified a long-term lease that satisfies the terms and demands of this well-respected and growing real estate management firm,” Covello said in a statement. “The premises offer a near perfect layout, gorgeous river views, and beneficial commuting routes.”
Rudin built 55 Broad Street in the early 1960s and recently completed a renovation of the building’s lobby which added new turnstiles, seating, a reception desk and terrazzo floors.
Other tenants in the 425,000-square-foot property include Curtis + Ginsberg Architects, online gambling company Unibet Interactive and contractor P.J. Mechanical Corporation.
