Stock transfer firm Continental takes 36K sf at 1 State Street

Company will relocate from 17 Battery Place

New York /
Jan.January 05, 2017 02:10 PM

Stock transfer agent Continental Stock Transfer & Trust Company signed a lease for 36,000 square feet at the Wolfson family’s 1 State Street in the Financial District.

The 53-year-old company will be moving east to the 35-story, 975,000-square-foot building from the Moinian Group’s TRData LogoTINY 17 Battery Place, located on the western side of the Downtown market. CoStar shows the company occupies 35,000 square feet on a lease expiring in July.
A spokesperson at CBRE, which represented 1 State Street landlord in the negotiations, confirmed the deal.

Financial terms of the lease weren’t available, but space on the eastern side of the submarket generally offers a discount compared to the west. Asking rents for direct deals in the downtown east subdistrict averaged $58.94 per square foot compared to $67.73 per square foot on the western side, according to Newmark Grubb Knight Frank’s fourth-quarter office leasing report.

Major tenants in the building include the city’s Department of Buildings and insurer Ambac Financial Group.

Newmark’s Paul Davidson represented Continental, while Bruce Surry and Rob Wizenberg at CBRE negotiated on behalf of the landlord.


Related Articles

arrow_forward_ios
Non-New York residents who worked remotely last year will still have to pay New York taxes. (iStock)
NY tax officials crack down on remote workers
NY tax officials crack down on remote workers
SL Green's Marc Hollday, 635-641 Avenue of the Americas, Infor's Kevin Samuelson. (Infor, SL Green)
Software company Infor renews 90K sf Chelsea lease
Software company Infor renews 90K sf Chelsea lease
Paramount Group CEO Albert Behler and 1301 Avenue of the Americas. (Paramount)
Paramount Group preps for $850M refinance
Paramount Group preps for $850M refinance
Deutsche Bank Chief Financial Officer James von Moltke (Getty)
Deutsche Bank eyes hybrid model while JPMorgan plans office return
Deutsche Bank eyes hybrid model while JPMorgan plans office return
Bill Gates and 619 West 54th Street (Getty, Taconic Partners)
Bill Gates-backed bio startup expanding in NYC
Bill Gates-backed bio startup expanding in NYC
Vornado’s Steve Roth and 888 Seventh Ave (Getty, Google Maps, iStock)
Vornado sues Hongkun USA, seeking $1.1M in rent
Vornado sues Hongkun USA, seeking $1.1M in rent
Vornado’s Steven Roth and One Park Avenue (Getty, Vornado)
Here’s what tenants are paying at One Park Ave
Here’s what tenants are paying at One Park Ave
About 17.3 percent of Manhattan office space is available for lease, the most in decades. (iStock)
Manhattan office market’s 25% drop is ominous sign for landlords
Manhattan office market’s 25% drop is ominous sign for landlords
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...