Superstructures Engineers + Architects Taking Over SOM’s Space at 14 Wall Street
By Rebecca Baird-Remba November 15, 2019 3:40 pmreprints
Superstructures Engineers + Architects is leaving its pricey Hudson Square office for new space in the Financial District.
The restoration firm has inked a deal for 33,561 square feet at 14 Wall Street, according to Newmark (NMRK) Knight Frank’s John Brierty, which repped Superstructures in the lease. The engineering and design company signed a 10-year lease for the 25th floor of the building between Broadway and Broad Street. Asking rent in the transaction was $55 per square foot.
Superstructures will leave 32 Avenue of the Americas after its lease expires in August of 2020. The firm looked all over Manhattan for new office space once it realized it was being priced out of the Hudson Square building, where the asking rent for its space is now $85 per square foot.
“We looked in Midtown South, Downtown and even Midtown,” Brierty said. “We looked at 30 buildings and focused on Downtown as the best option for a combination of price and transportation. They have several hundred projects in New York City and their personnel travel to them on a daily basis so they needed central transportation and access to trains.”
The deal worked out in part because the current occupant of the space at 14 Wall Street — architecture firm Skidmore, Owings & Merrill (SOM) — is leaving in April 2020, Brierty said. The four intervening months offer just enough time for Superstructures to build out its new office space.
SOM, meanwhile, is moving to 80,000 square feet at 7 World Trade Center, which it designed.
The New York Post broke the news of the transaction at 14 Wall Street, which is owned by Alexander Rovt. CBRE’s Brad Gerla, Jonathan Cope and Paul Walker represented the landlord in the deal.