Hot on the heels of Revlon’s 15-year, 90,000-square-foot lease at 1 New York Plaza, the National Association of Insurance Commissioners is relocating its Capital Markets and Investment Analysis Office to Brookfield’s 50-story office tower.
The NAIC inked a 13-year lease for a 19,219-square-foot sliver of the building’s 42nd floor, and will pay rent in the low $40s per square foot. The office will relocate from 48 Wall Street.
The deal, reported by the New York Observer, comes amid a flurry of activity in the building follow Brookfield’s gut renovation of the property’s sub-level retail concourse, revamped after 23 million gallons of water floooded the lower levels during Hurricane Sandy. [NYO] – Julie Strickland