Photography and post-production company Sandbox Studio inked a lease for 68,000 square feet at New Water Street Corp.’s 55 Water Street in the Financial District.
The lease is for 16 years, and asking rents were $50 per square foot, the New York Observer reported. Sandbox plans to relocate from its current digs at 250 Hudson Street in Hudson Square in April 2016.
CBRE represented both sides, with Sandbox being represented by Joel Wechsler, Matt Bergey and Nathan Katz, and the landlord being represented by Brad Gerla, Howard Fiddle, Evan Haskell and Mary Ann Tighe.
“The economics of the transaction compared to those in the Hudson Square neighborhood were compelling,” Wechsler said in a statement. “Sandbox is very excited to join the ever increasing community of creative firms that have located in the FiDi community.”