The Real Deal New York

Sandbox Studio moving to 55 Water Street in FiDi

Photo production company is currently located at 250 Hudson Street

July 16, 2015 05:00PM

55 Water Street (inset: Joel Wechsler)

55 Water Street in the Financial District (inset: Joel Wechsler)

Photography and post-production company Sandbox Studio inked a lease for 68,000 square feet at New Water Street Corp.’s 55 Water Street in the Financial District.

The lease is for 16 years, and asking rents were $50 per square foot, the New York Observer reported. Sandbox plans to relocate from its current digs at 250 Hudson Street in Hudson Square in April 2016.

CBRE represented both sides, with Sandbox being represented by Joel Wechsler, Matt Bergey and Nathan Katz, and the landlord being represented by Brad Gerla, Howard Fiddle, Evan Haskell and Mary Ann Tighe.

“The economics of the transaction compared to those in the Hudson Square neighborhood were compelling,” Wechsler said in a statement. “Sandbox is very excited to join the ever increasing community of creative firms that have located in the FiDi community.”

Last year, Hugo Boss leased 74,000 square feet in the building, and construction services firm Hunter Roberts Construction Group signed a sublease there for 37,000 square feet. [NYO] — Tess Hofmann