Lighting Design Firm Tillotson Renews 5K-SF Office Lease at GFP’s 40 Worth Street

The lights are bright in Tribeca. 

Tillotson Design Associates, a lighting design firm known for its architectural approach to lighting, has renewed its 4,972-square-foot office lease at 40 Worth Street in Tribeca, landlord GFP Real Estate announced Wednesday. 

The company has been a tenant in the building since 2005. With this renewal, Tillotson has signed on for an additional five years in the same square footage it currently occupies. The renewal takes effect immediately, GFP said.

The asking rent was not disclosed, but the average asking rent for office space in Tribeca was $70.41 per square foot during the first quarter of 2026, according to Colliers data. 

Roy Lapidus from GFP Real Estate represented both the landlord and the tenant in the transaction.

Founded in 2004, Tillotson has done lighting design for exhibitions at New York City’s Metropolitan Museum of Art and School of American Ballet.

“Tillotson Design Associates has built a strong presence at 40 Worth over the years, and this renewal reflects both their steady growth and the value they place on being in the building,” Lapidus said in a statement. “It’s a great example of a tenant and ownership working together long term to create the right environment for a creative, design-focused firm.”

Also known as the Merchants Square Building, 40 Worth Street is a full-block building between West Broadway and Church Street that opened in 1929. The property’s other tenants include gymnastics studio NY Elite and Weill Cornell Medicine Primary Care. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.