The American Arbitration Association subleased roughly 47,000 square feet from the global insurance company XL Catlin at RXR Realty’s 32 Old Slip in the Financial District.
The nonprofit group will occupy the 33rd and 36th floors of the 36-story through June 2025, the Commercial Observer reported.
The financial terms of the deal were not revealed, but asking rent on a low floor was $59 per square foot in July 2016, according to CoStar Group.
RXR controls the 1.2 million-square-foot tower through a ground lease it purchased from Beacon Capital Partners in April 2015 for $477.5 million. Melohn Properties paid $197.5 million for a stake in the ground lease. [CO] – Rich Bockmann