The Real Deal New York

NYPD taking 18K sf in the Verizon Building

Several divisions will move to 375 Pearl Street

May 20, 2015 02:00PM

A rendering of 375 Pearl Street

A rendering of 375 Pearl Street

The NYPD will be moving about 85 staffers to 18,000 square feet in the Verizon Building at 375 Pearl Street.

The department’s federal monitor, compliance, and inspector general units will be occupying the space on the 22nd floor of the Lower Manhattan property, the New York Post reported. The 32-story, 1.1 million-square-foot building is situated just across the street from One Police Plaza.

Asking rents are $43 per square foot. The 22nd floor and other top stories were recently renovated.

Sabey Corp. purchase a majority interest in 375 Pearl Street in 2011 for $120 million when the building was in foreclosure. Verizon still owns several floors.

The police department is also planning to lease 3,000 square feet on the ground floor of 90 West Street for its counterterrorism division.

Both leases are pending approval of the City Planning department. [NYP] — Tess Hofmann