The Real Deal New York

Leave out the beaver at William Beaver House?

New leasing agent, property manager and retail tenant for 15 William Street
By Guelda Voien | April 09, 2013 06:00PM

Changes are afoot at the William Beaver House, the 47-story luxury condominium-turned-rental building at 15 William Street in the Financial District. For one, Rose Associates is out as both the leasing agent and property manager for the 300-unit tower, sources confirmed to The Real Deal.

A team from Town Residential, led by Matthew Van Damm, has taken over leasing. In some marketing materials, the firm has referred to the building simply as “15 William,” leading to speculation that the tower is dropping the “Beaver” from its name.

Town representatives declined to comment on the possible name change.

Additionally, Cooper Square Realty, the city’s largest manager, has taken over Rose’s duties as property manager, a member of the building’s management confirmed to The Real Deal. Rose did not immediately respond to a request for comment on the change, which took effect January 1.

And lastly, a new tenant is moving in to the long vacant retail space on the ground floor. Open Kitchen, a gourmet coffee shop and market, will take the 6,127-square-foot store, according to a sign at the building. RKF’s Greg Covey had been marketing the space; he declined to comment.

The space was supposed to hold a “first-class restaurant or food and beverage operator,” a representative for CIM told the New York Times after the Los Angeles-based private equity firm bought the majority interest in the building.

CIM took over as the sponsor at William Beaver House in late 2010, when the property went into default under its previous owners, billionaire developer Tamir Sapir and SDS Investments. CIM has had great success recasting the tower as a luxury rental, reportedly getting rents around $57 per square foot at the 208 units which were unsold when the building went rental.