The Real Deal New York

NYC Dept. of Investigation sets sights on 180 Maiden Lane

Agency considering leasing 300K sf
September 27, 2016 08:38AM

180 Maiden Lane and Tara Stacom

180 Maiden Lane and Tara Stacom

The city’s Department of Investigation is looking into a big chunk of space at 180 Maiden Lane in the Financial District.

The agency is in serious talks to lease more than 300,000 square feet at the building owned by Clarion Partners and Norman Sturner’s MHP Real Estate Services, the New York Post reported.

Cushman & Wakefield’s Tara Stacom, the property’s leasing agent, said, “We are still negotiating with multiple tenants, and there are no leases out to anyone.”

If the deal goes through, it would eat up a big chunk of the 700,000 square feet available in the building.The Investigation department’s staff has grown from 500 to 700 over the past three years.

“We’ve outgrown our currently nearly 200,000 square feet at five sites,” DOI spokesperson Diane Struzzi said. “We are in negotiations but we can’t comment on any location.”

The department now has offices at both 80 and 83 Maiden Lane, 250 Broadway, 160 Water Street and a location in the Bronx.

The leasing team has been chipping away at some 800,000 square feet of vacancy at 180 Maiden Lane after AIG relocated to 175 Water Street in 2014. Clarion and MHP spent $28 million on renovations after buying the building from SL Green Realty in 2014. [NYP, 2nd item] – Rich Bockmann