Law Firm Moving to 26K SF at Union Investment’s 140 Broadway
By Isabelle Durso September 24, 2024 1:46 pm
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Law firm Hawkins Delafield & Wood has signed a 16-year lease to move to Union Investment’s 140 Broadway.
The firm is taking approximately 26,210 square feet of office space at the 50-story, 1.1 million-square-foot office building, which Germany-based Union picked up through the Unilmmo: Europa real estate fund, according to Union.
“140 Broadway is one of New York’s most famous skyscrapers and has been refurbished several times since its completion in 1967, offering first-class, modern office space tailored to the needs of tenants,” Ulrich Dischler, head of asset management overseas at Union, said in a statement. “Top office space in good locations remains attractive even in these challenging times.”
Hawkins will move into the Financial District skyscraper in April after relocating from its previous New York practice at 7 World Trade Center, according to its website and a spokesperson for Union.
The spokesperson for Union declined to provide the asking rent, but a report from Newmark found office rents in Lower Manhattan averaged $56.63 per square foot during the second quarter of 2024.
Cushman & Wakefield (CWK) helped broker the deal, according to the spokesperson, but it was unclear which specific brokers worked on the transaction. Spokespeople for Hawkins Delafield & Wood and C&W did not immediately respond to requests for comment.
Other tenants of 140 Broadway include investment firm Alpine Global Management, which renewed its 6,809-square-foot lease at the building in September 2021, and law firm Labaton Sucharow, which reupped its headquarters there in January 2020, as Commercial Observer previously reported.
But several companies have also left 140 Broadway in recent years, such as reinsurer SiriusPoint and CBRE, which relocated its office to 3 World Trade Center in 2020.
Isabelle Durso can be reached at idurso@commercialobserver.com.
