The New York State Society of CPAs will be moving its headquarters from 3 Park Avenue in Midtown to a less expensive home at 14 Wall Street in the Financial District, Crain’s reported. The NYSSCPA, one of the country’s largest accounting organizations with almost 30,000 members, will take over an entire 37,000-square-foot floor at the property at a cost of somewhere between $40 and $50 per square foot. It is a ten-year lease.
The move by the NYSSCPA is similar to one made by health insurer Amerigroup, which also departed its Midtown headquarters to take over a 165,000-square-foot office space at 14 Wall Street. The building is also home to architectural firm SOM and a Rubicon Property office.
Ukrainian fertilizer tycoon Alex Rovt acquired the building last year from its former owners Capstone Equities and the Carlyle Group for $303 million in cash. Capstone maintained a minority stake in the 37-story property in the deal.
Another organization, the American Society of Mechanical Engineers, also made the decision to leave the premises at 3 Park Avenue. ASME recently moved, relocating to nearby 2 Park Avenue. [Crain’s] – Evan Bleier