The Real Deal New York

SHoP Architects sets up shop at Woolworth Building

May 29, 2013 10:00AM

SHoP Architects will make a move to the Woolworth Building in a 30,500-square-foot deal, Crain’s reported. The renowned firm behind high-profile projects such as the Barclays Center and a mall at South Street Seaport’s Pier 17 will take the entire 11th floor and a portion of the 21st floor at the building, and will leave its current offices at 11 Park Place.

The 15-year deal sees SHoP more than double its space, which principal Greg Pasquarelli told Crain’s was necessary given the scale of its projects. “When you’re doing these big, complex projects, you need to be able to have conference rooms for dozens of people working on a project,” Pasquarelli said. “Having that on a single floor is huge.”

Asking rents at the building — located at 233 Broadway and owned by a partnership between Rubin Schron’s Cammeby’s International and the Witkoff Group – were $43 per square foot. SHoP was represented by CBRE Group’s Mary Ann Tighe and Gerry Miovski.

Landlord representative Brian Siegal of Lawrence Group told Crain’s that the building was working to attract creative tenants and diversify the rent rolls.

“We’ve got great architecture and the greatest lobby in Manhattan,” Siegal said. “It’s a draw for media firms and design firms, and having a prestigious creative tenant like SHoP proves just how attractive the building is.” [Crain’s]  – Hiten Samtani