Toll Brothers City Living, the urban development division of the U.S. home builder, is relocating its New York headquarters to 99 Wall Street in Manhattan from Downtown Brooklyn, Crain’s reported. The company had been working out of a temporary space on Livingston Street for about six months since leaving its long-term space at 16 Court Street.
The company is leasing about 4,700 square feet in the Financial District building, according to David Von Spreckelsen, senior vice president at Toll Brothers City Living, who said the firm also looked at spaces in Soho, Noho and Union Square.
“Manhattan is more convenient for most of our employees,” Von Spreckelson said.
Though the asking rents for the space were not immediately available, rents averaged $38.97 per square foot downtown in September, according to data cited by Crain’s.
As The Real Deal reported earlier today, Toll Brothers have been keeping busy in the city. The firm has partnered with real estate investment trust Equity Residential in reportedly paying $134 million for a large development site at 400 Park Avenue South. [Crain's]