Four floors of 60 Wall Street hit the market

New York /
Sep.September 26, 2012 12:30 PM

Traditionally a single-use building, 60 Wall Street, the 50-story, 1.6 million-square-foot behemoth, has put its 21st to 24th floors on the leasing market, the New York Observer reported. The building’s primary occupant is Deutsche Bank, whose lease from owner Paramount Group gave it an option to downsize.

The floors now on the market total 130,000 square feet and are being marketed in the low $50s per square foot by Andrew Peretz and Bruce Mosler of Cushman & Wakefield. The building is a holdout on a block where most nearby properties have been converted for residential use.

“We are a Wall Street address,” Peretz told the Observer, “which is something that I think has a good connotation to it.”

Mosler touted the association with Deutsche Bank. “This building offers the unique feeling of having an identity,” he said. “It could be Deutsche Bank and only one other tenant.”

Paramount purchased the property from Deutsche Bank for $1.2 billion in 2007.

Peter Brindley, a Paramount leasing executive, sees 60 Wall as a potential space for tech firms unable to afford increasingly pricey Midtown South, the nation’s tighest office leasing market. [NYO]


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