NYSE to move out of 20 Broad Street next year

The stock exchange will not renew its 380K sf lease at the location in a cost-cutting move

TRD New York /
Feb.February 09, 2015 11:40 AM

IntercontinentalExchange Group, the parent company of the New York Stock Exchange, is leaving its 381,000-square-foot space at 20 Broad Street when its lease expires next year.

The move could generate millions of dollars for the company, according to the New York Post. The lease expires in August 2016, a CBRE broker told the newspaper. Vornado Realty Trust controls the 27-story building at 20 Broad Street under a ground lease that runs through 2081, the newspaper reported. Vornado leases the building from the NYSE.

Atlanta-based ICE bought NYSE Euronext in 2013 for $8.2 billion and has been cutting cost ever since, according to the newspaper.

The NYSE had the option of extending the lease until 2041. The stock exchange will not leave its 221-year-old trading floor at 11 Wall Street, which is being remodeled. ICE now has the option to sell the land to Vornado or another investor. [NYP] — Claire Moses


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

220 Central Park South and Michael Cantanucci (Credit: Getty Images and Google Maps)

Car dealer drops $38M for condo at 220 CPS

Facebook CEO Mark Zuckerberg and a rendering of the Farley Post Office building redevelopment (Credit: Getty Images, SOM)

Facebook in talks for massive lease at Vornado’s Farley Building

Vornado president Michael Franco and 512 West 22nd Street (Credit: VNO)

WarnerMedia to anchor Vornado’s West Chelsea spec office

From left: 220 Park Avenue South, 15 Central Park West, 520 Park Avenue, 35 Hudson Yards, Sting, Juan Beckmann Vidal, Daniel Och, Bob Diamond, and Stephen Ross (Credit: Getty Images, Wikipedia, StreeEasy, and Google Maps)

Serial buyers trade “old” condos for new on Billionaires’ Row

The Daily Dirt: Real estate and interest rate cuts

arrow_forward_ios