The Real Deal New York

Nonprofit staffing firm signs on for 38K sf at 85 Broad

Year Up to consolidate offices but also expand
January 20, 2015 12:24PM

Year Up inked a 15-year deal for more than 38,000 square feet of office space at MetLife and Beacon Capital Partners’ 85 Broad Street.

The Boston-based nonprofit, which helps low-income people find jobs, plans to consolidate three of its New York offices that collectively span 25,000 square feet. A Cresa team led by Mark Jaccom represented Year Up, while JLL’s Cynthia Wasserberger represented the landlords.

Asking rents at the 1.1 million-square-foot Downtown building range from the high $40s to the mid-$50s per square foot, the Wall Street Journal reported. The 30-story building, valued between $350 million and $550 million, once served as Goldman Sachs’ headquarters. Beacon is in the process of acquiring an unspecified minority stake in the property, as previously reported. [WSJ, 2nd]Mark Maurer