Investment Bank Oppenheimer Relocates HQ to 220K-SF Office at 32 Old Slip

Investment bank and wealth management giant Oppenheimer & Company plans to relocate its headquarters within Lower Manhattan. 

Oppenheimer & Company, a subsidiary of Oppenheimer Holdings, has signed an approximately 220,000-square-foot lease across six full floors at RXR’s 32 Old Slip office property in Manhattan’s Financial District, according to the company and tenant broker JLL. The firm will relocate in early 2028 from nearby 2 Wall Street. 

“For 145 years, Oppenheimer has grown alongside Wall Street, and our new headquarters at 32 Old Slip in Lower Manhattan reaffirms our commitment to the area,” Robert Lowenthal, president and CEO at Oppenheimer, said in a statement. “This move is an investment in our culture, bringing our teams together on six floors with modern technology and a dedicated space to welcome clients. In doing so, we are building a workplace that honors our heritage and is designed for what comes next.” 

Matt Astrachan, Mitchell Konsker and Steven Bauer from JLL represented Oppenheimer in this deal, while RXR was represented in-house by Daniel Birney and Heidi Steinegger. 

“Oppenheimer’s commitment to 32 Old Slip speaks to the enduring appeal of Lower Manhattan and the continued evolution of its office market,” William Elder, executive vice president and manager of RXR’s New York City division, said in a statement. “As a well-respected firm with deep roots in New York’s financial community, Oppenheimer is a transformative addition to the building and the neighborhood.”

JLL’s Astrachan added that the lease “reflects the continued demand for high-quality properties with modern infrastructure and amenities” in Lower Manhattan.

The firm’s move represents the creation of over 1,000 jobs and an investment of $66 million in New York, according to a statement from recently re-elected New York Gov. Kathy Hochul. 

“This commitment sends a clear message that there is no better place to do business than New York state,” Hochul said in a statement. “We have the  talent, the access to global markets and resources companies need to compete, innovate and grow. We have always led the way, and we are building an even stronger future.”

Gensler is working to design the new office for Oppenheimer’s New York City employees. The design firm will incorporate natural light and open gathering spaces to promote collaboration and productivity. 

“We want our headquarters to be a place where colleagues learn from one another, build lasting careers and welcome clients into the life of our firm,” Lowenthal added. “As we plan for Oppenheimer’s future, we are creating an  environment that supports those relationships and the work our people do every day.”

Completed in 1987, 32 Old Slip is a 37-story property along the East River near Pier 11. Other office tenants include wealth management firm Fincadia and talent company LevelUp. 

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