Financial services firm Wellington Shields has re-upped its lease for another ten years at 140 Broadway, where it has been based since 1997.
The firm’s 18,759-square-foot space is located on the 44th floor of the 51-story building, and the agreed-upon rent was reportedly $55 per square foot. Jason Schwartzenberg and Joseph Messina of Studley represented the tenant in the deal, while Robert Constable of Cushman & Wakefield represented the landlord, an LLC dubbed 140 Broadway, in-house.
“It was important to maintain the quality of the existing environment, and we found that the panoramic views, efficiency of the building, and overall economics of the lease at 140 Broadway couldn’t be matched,” Schwartzenberg told the New York Observer.
The 1.25 million-square-foot building was designed by Skidmore, Owings & Merrill in 1967 and is located between Liberty and Cedar streets in the Financial District. [NYO] — Julie Strickland