Engineering nonprofit decamps for 120 Wall Street

New York /
May.May 15, 2013 12:00 PM

The American Institute of Chemical Engineers is leaving behind Murray Hill for a skyscraper in the Financial District.

The nonprofit signed a long-term, 16,506-square-foot lease at the Silverstein Properties-owned 120 Wall Street after scouring Midtown South and Downtown for two years, said Leon Manoff of brokerage Colliers International in a release reported by the New York Observer. Asking rents were in the upper-$30s per square foot at the property, where the organization will occupy the full 23rd floor.

Manoff and Robert Kennedy represented the tenant, which is relocating from 3 Park Avenue, in the leasing transaction, the newspaper said.

The 34-story Wall Street building belongs to a state-sponsored incentive program that offers real estate tax exemption in exchange for leasing to nonprofits.

According to the release, a capital improvement plan to modernize the building’s façade, lobby and elevator cabs is nearing completion. [NYO]Mark Maurer

 
 
 

Related Articles

arrow_forward_ios
Katie Kurtz and Silverstein Properties chairman Larry Silverstein (Silverstein, Getty)
Silverstein Properties hires Katie Kurtz as new CFO
Silverstein Properties hires Katie Kurtz as new CFO
1540 Broadway and 31 West 52nd Street (Google Maps, Hines)
Manhattan office availability hits record high…again
Manhattan office availability hits record high…again
Colliers International CEO Jay Hennick (Colliers, iStock)
Colliers’ acquisitions help boost company’s Q1 revenue
Colliers’ acquisitions help boost company’s Q1 revenue
Bill Gates and 619 West 54th Street (Getty, Taconic Partners)
Bill Gates-backed bio startup expanding in NYC
Bill Gates-backed bio startup expanding in NYC
From left to right: Gov. Andrew Cuomo, Tony Malkin, Larry Silverstein, Douglas Durst, Steven Roth and Bill Rudin. (Getty)
Vornado, Empire State Realty Trust pledge total carbon neutrality by 2035
Vornado, Empire State Realty Trust pledge total carbon neutrality by 2035
345 Park Avenue and 787 Eleventh Avenue (Photos via Google Maps and Rafael Viñoly)
Manhattan office availability hits all-time high in Q1
Manhattan office availability hits all-time high in Q1
Larry Silverstein and The Denizen in Brooklyn above; and Scott Rechler with 555TEN in Hudson Yards top right. (Getty)
The art of the (discounted) deal
The art of the (discounted) deal
New York Times tower at 620 Eighth Avenue and Park Avenue Plaza at 55 East 52nd Street (Photos via Wikipedia Commons, Google Maps)
That empty feeling: Manhattan office availability at record-worst 15.5%
That empty feeling: Manhattan office availability at record-worst 15.5%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...