Nonprofit World Education Services Subleases 12K SF at One State Street Plaza

A nonprofit organization that provides credential evaluations for immigrants and students signed a sublease at One State Street Plaza at the southern tip of Manhattan, Commercial Observer has learned.

World Education Services signed a sublease to take over a 12,123-square-foot space occupied by Smartstream Technologies on part of the 15th floor of the building owned by Aaron Wolfson of K2 Real Estate Partners, according to a source with knowledge of the deal.

Asking rent in the 33-story building, which has an alternative address of 34 Whitehall Street, was $45 per square foot and the sublease runs to 2032, according to the source.

The nonprofit will have a short move to its new offices as it’s been located a few blocks away at One Battery Park Plaza since 2003, last reupping its 26,000 square feet there in 2012, as CO previously reported.

Cushman & Wakefield (CWK)’s Carri Lyon and Jenna Catalon negotiated on behalf of World Education Services in the deal while Newmark (NMRK)’s C.J. Heitner and Daniel Appel handled the deal for Smartstream. 

C&W, K2 and Newmark did not immediately respond to a request for comment.

The building has had occupancy issues since before the pandemic but managed to secure a $360 million loan from Natixis Real Estate Capital in 2017 to shore up its financing back when the landlord was known as the Wolfson Group.

The Wolfson Group’s website no longer seems to be in operation and K2’s website isn’t completed, but the documents filed to property records are signed by Wolfson.

Mark Hallum can be reached at mhallum@commercialobserver.com.