YMCA Retirement Fund takes space at Silverstein Properties’ 120 Broadway

April 12, 2013 10:30AM

The YMCA Retirement Fund has inked a 15-year, 52,000-square-foot lease at 120 Broadway, an office building owned by Silverstein Properties, the New York Observer reported. 

The asking rent at the 2,000,000-square-foot 120 Broadway, also known as the Equitable Building, was $38 per square foot, according to the Observer. The nonprofit will relocate to the 19th floor of the building from its 48,000-square-foot space at 140 Broadway.

Silverstein Properties owned that building until 2004, and Roger Silverstein, the group’s executive vice president of leasing, told the Observer he kept in touch with YMCA after the sale. “We put them in 140 Broadway and maintained a very good, solid working relationship,” Silverstein said. “This never really hit the market, so it was a good deal for all involved.” The building was now 96 percent occupied, he added.

Silverstein, along with his colleague Joseph Artusa represented the landlord, while Robert Goodman of Colliers International represented the tenant. Goodman could not be immediately reached by the Observer for comment. [NYO]Hiten Samtani