Sustainable Development Consultant Arup Moves to 99K SF at 140 Broadway
By Isabelle Durso and Lois Weiss April 9, 2025 2:30 pm
reprints
Sustainable development consultancy Arup is moving into nearly 100,000 square feet at 140 Broadway in the Financial District as its current offices in the neighborhood gear up to be converted to residential.
Arup, a collective of designers, engineers and technical professionals, leased 99,418 square feet on the entire 17th through 20th floors of the 51-story tower owned by Union Investment, according to sources with knowledge of the deal. The lease term runs for 16 years and six months.
The firm will move from its current offices at 77 Water Street, where Vanbarton Group secured a $280 million acquisition and construction loan in December for a planned office-to-residential conversion, as Commercial Observer previously reported.
“We are excited to welcome Arup as a new tenant to our 140 Broadway landmark tower in Downtown Manhattan,” Ulrich Dischler, head of asset management overseas at Union, said in a statement to CO.
Asking rent in the new deal was unclear, but a report from Colliers (CIGI) found office rents in Lower Manhattan averaged $57.90 per square foot during the first quarter of 2025.
Colliers’ Robert Tunis and Eric Ferriello and LegacyNY co-brokered the transaction, sources said. A spokesperson for Colliers did not immediately respond to a request for comment, while a spokesperson for LegacyNY could not be reached for comment.
Arup, whose design services have been used at properties such as Australia’s Sydney Opera House, has 96 offices worldwide. The company has been at 77 Water Street for more than a decade, according to the New York Business Journal, which first reported the news.
It’s unclear how much space Arup had at 77 Water Street, but its move to 140 Broadway will set the firm up for “greater flexibility,” Kyle Fisher, who co-leads Arup’s New York office, told CO.
“We’ve decided to relocate our New York office with the goal of inhabiting a new space that sets us up for improved collaboration, greater flexibility and an enhanced ability to partner with and support our local, regional and global clients,” Fisher said in a statement.
Other tenants of the building between Cedar and Liberty streets include law firms Hawkins Delafield & Wood and Labaton Keller Sucharow as well as trading firm Susquehanna International Group.
Isabelle Durso can be reached at idurso@commercialobserver.com.
