EmblemHealth stays put at 55 Water Street

Company has inked a 15-year lease renewal at the building for 440K sf
May 07, 2019 08:30AM

Emblem Health CEO Karen Ignagni and 55 Water Street (Credit: Getty Images)

EmblemHealth CEO Karen Ignagni and 55 Water Street (Credit: Getty Images)

EmblemHealth will remain at 55 Water Street in one of the city’s largest downtown deals of the year.

The company is leasing 440,000 square feet on 13 floors in a 15-year renewal, according to the New York Post. A Colliers International team represented Emblem, while a CBRE team represented the owner, a division of The Retirement Systems of Alabama.

Last year the firm was said to have considered leave the building and subleasing its space, but its renewal guarantees that 55 Water Street should keep a long-term anchor tenant.

During the first quarter of the year, the largest lease downtown was 526,552 square feet for NYC Health & Hospitals at 7 Hanover Square.

The 53-story property is the city’s largest office tower at 3.6 million square feet. Justworks was in talks to lease about 275,000 square feet in the property in late March. [NYP] – Eddie Small