NY’s Office of General Services Re-ups at 123 William Street
By Nicholas Rizzi April 13, 2022 2:35 pm
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The New York State Office of General Services — the agency in charge of leasing and procurement for the state — renewed its offices at 123 William Street, according to landlord broker Avison Young.
The agency signed a six-year lease to keep its 45,350-square-foot offices on the entire second and 20th floors of the 27-story Financial District building between John and Fulton streets, Avison Young said. Asking rent was $48 per square foot.
“New York State Office of General Services’ lease renewal at 123 William Street speaks to the allure of the building’s spacious layouts and transit-oriented downtown location, as well as ownership’s willingness to accommodate tenants’ growth needs regardless of existing lease provisions,” Avison Young’s Todd Korren, who represented landlord New York City REIT, said in a statement. “The recent leasing activity at the building are the latest examples of tenants continuing to shift away from raw space and seek direct, turnkey offices with flexible terms in best-in-class buildings.”
It’s unclear when the Office of General Services first moved into the building. The second-floor space is used by the New York Department of State’s division of licensing services, according to the state’s website.
Stephen Siegel and Bruce Surry of CBRE represented the Office of General Services in the deal. A spokesperson for CBRE declined to comment.
Aside from the Office of General Services, executive search firm LHi Group extended and expanded its presence in the building.
The company signed a seven-year deal to relocate from 8,293 square feet on the 14th floor to 12,658 square feet on the entire 26th floor of the property, according to Avison Young.
LHi Group — which owns recruitment agency brands Lawrence Harvey, SciPro, Piper Maddox, Harper Harrison and XPS — first moved into 123 William in early 2018, according to Avison Young.
Korren represented NYC REIT in the deal while Gethin Davies of The Instant Group handled it for LHi. A spokesperson for Instant Group did not respond to a request for comment.
Finally, law practice Pro Counsel renewed its 4,600-square-foot office on part of the 15th floor of 123 William, which it has occupied since 2010, according to Avison Young.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
