Consulting Firm FST and Nonprofit Resilient Cities Lease Space at 50 Broad Street
By Abigail Nehring October 16, 2023 5:17 pm
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Consulting firm FST Technical Services and nonprofit Resilient Cities Catalyst are relocating to 50 Broad Street.
In the larger deal, FST signed a long-term lease for 5,624 square feet on the fourth floor of the 20-story building in the Financial District, according to Cushman & Wakefield (CWK), which arranged the deals for landlord Fifty Broad.
Asking rent was $44 per square foot in both deals, according to C&W.
FST was founded in 1984 and provides quality control, certification and other engineering solutions for the semiconductor and microelectronics industries. It’s headquartered in Chandler, Ariz., and has offices in 12 other states, Ireland and Israel, according to its website. The company’s new Manhattan office is just a block away from its previous address at 30 Broad Street, according to its LinkedIn page.
In a smaller deal, Resilient Cities Catalyst took 3,656 square feet on the seventh floor of the building. It’s unclear where the nonprofit was previously located, but a spokesperson for C&W said its move to 50 Broad was “a relocation from a NYC office.” The nonprofit lists 200 Broadway as its address on LinkedIn.
Resilient Cities was founded in 2019 and works with government and business partners to reduce the impacts of climate change and economic challenges on vulnerable communities. Its mission is aligned with the Rockefeller Foundation’s 100 Resilient Cities Initiative, according to its website.
The exact length of the deals are unclear, but the C&W spokesperson said “both leases average five years.”
C&W’s Jonathan Fein brokered both deals for Fifty Broad while FST was represented by John LaRuffa, also of C&W. Resilient Cities was represented by Samuel Steinberg and Gregg Cohen of Cresa. Steinberg confirmed the details of the lease but did not immediately provide further comment.
“We are pleased to welcome FST Technical and Resilient Cities Catalyst to 50 Broad Street,” Fein said in a statement. “Both tenants will benefit from the property’s ideal location in the heart of the Financial District, with unparalleled access to public transportation.”
Other tenants at the property include audio branding and design company Made Music Studio, electronic wholesale supplier StoreBound and architectural and design firm Studio Gang.
Abigail Nehring can be reached at anehring@commercialobserver.com.
