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375 Pearl Street

375 Pearl Street
New York, NY 10038
Office, Leasing/Rental

375 Pearl Street is a 822,318 square foot property built in 1912 in the City Hall neighborhood of Manhattan. The property has 5 total units and has an occupancy classification of "office space."

  • Address 375 Pearl Street
  • neighborhood City Hall
  • borough Manhattan
  • floors 32
  • Year Built 1912
  • total units 5
  • square feet 822,318
  • block and lot 1-00113-7501
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 106,000
  • Price per foot $ 45.00
notes
The tenant inked a 20-year lease for the City Hall building which had an asking rent of $45 per square foot.
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 37,000
  • Publication Date 07/09/2018
  • Event Date 07/03/2018
  • Party 1 Intergate Manhattan
  • Party 1 Brokerage CBRE
  • Party 2 Rafael Viñoly
  • Party 2 Brokerage CBRE
notes
The architect signed a lease for the Town Hall location.
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood Two Bridges
  • Borough Manhattan
  • Square feet 72,180
  • Publication Date 09/05/2017
  • Event Date 09/05/2017
  • Party 1 Sabey Data Center Properties
  • Party 1 Brokerage CBRE
  • Party 1 Broker Gerry Miovski, Gregg Rothkin
  • Party 2 New York City Department of Sanitation
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker The New York City department signed a 20-year lease for 2 floors.
  • Event Financing
  • Address 375 Pearl Street
  • Neighborhood Two Bridges
  • Borough Manhattan
  • Square feet 822,318
  • Price $ 200,000,000
  • Publication Date 09/01/2017
  • Event Date 08/15/2017
  • Party 1 Sabey Corp.
  • Party 2 Wells Fargo
notes
The development company acquired a loan.
  • Event Financing
  • Address 375 Pearl Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Price $ 96,000,000
  • Publication Date 08/01/2017
  • Event Date 06/28/2017
  • Party 1 Sabey Corporation
  • Party 2 Wells Fargo
notes
The real estate development company secured a loan
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood Lower Manhattan
  • Borough Manhattan
  • Square feet 193,821
  • Publication Date 07/01/2017
  • Event Date 05/22/2017
  • Party 1 Sabey Data Center Properties, Youngwoo & Associate
  • Party 1 Brokerage CBRE
  • Party 1 Broker Gregg Rothkin, Gerry Miovski
  • Party 2 New York City Human Resources Administration
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Bob Giglio, George Keller
notes
The city's Human Resources Administration division signed a 20-year lease for part of the 20th floor and the entire 21st to 25th floors.
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 18,000
  • Publication Date 07/01/2015
  • Event Date 05/22/2015
  • Party 1 Sabey Data Center Properties
  • Party 2 NYPD
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 11,000
  • Price per foot $ 50.00
  • Publication Date 10/01/2013
  • Event Date 08/22/2013
  • Party 1 Sabey
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Michael Morris
  • Party 2 Windstream
  • Party 2 Brokerage Partners National
  • Party 2 Broker Michael Rareshide
notes
The data center company signed a 15-year lease, Crain's reported.
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 11,000
  • Price per foot $ 50.00
  • Publication Date 10/01/2013
  • Event Date 08/22/2013
  • Party 1 Sabey
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Michael Morris
  • Party 2 Windstream
  • Party 2 Brokerage Partners National
  • Party 2 Broker Michael Rareshide
notes
The data center company signed a 15-year lease, Crain's reported.
  • Event Sales
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 1,100,000
  • Price $ 120,000,000
  • Price per foot $ 109.09
notes
The majority interest in the building sold for $120 million. Youngwoo Associates took a 2 percent equity stake.
  • Event Financing
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 1,098,000
  • Publication Date 02/01/2008
  • Event Date 12/23/2007
  • Party 1 Taconic Investment Partners, Square Mile Capital
  • Party 1 Brokerage HFF
  • Party 1 Broker Evan Pariser, Steve Klein, Todd Newman
  • Party 2 Apollo Real Estate Advisors, M&T Bank
notes
A $163.5 million acquisition and predevelopment loan was arranged for a condominium interest in the property. The joint venture plans to redevelop the property into a modern office tower. 32-story office building.
  • Event Sales
  • Address 375 Pearl Street
  • Neighborhood City Hall
  • Borough Manhattan
  • Square feet 1,098,000
  • Price $ 172,000,000
  • Price per foot $ 156.65
notes
A condominium interest in 930,000 square feet of the property sold for $172 million, or $185 per square foot. Taconic will own floors 2 to 7 and 11 to 32, while Verizon will retain ownership of floors 8 to 10. The buyer plans to spend up to $100 million in renovations, including as many as six new elevator cabs, new HVAC and new bathrooms.
  • Event Office Leasing
  • Address 375 Pearl Street
  • Neighborhood Lower Manhattan
  • Borough Manhattan
  • Square feet 182,750
  • Publication Date 01/09/1900
  • Event Date 01/07/1900
  • Party 1 Sabey Data Center Properties
  • Party 2 New York City Department of Finance
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Robert Giglio, George Keller
notes
The city government agency signed a lease for the 26th to 30th floors.

06/06/2017
There wasn't a tremendous amount of big-ticket office leasing activity in the month of May, but when sizable deals were inked CBRE was usually involved. The commercial brokerage dominated There wasn't a tremendous amount of big-ticket office leasing activity in the month of May, but when sizable deals were inked CBRE was usually involved. The commercial brokerage dominated...

01/31/2011
But some parts of the district have few available spaces. One is the City Hall submarket, which is one of the tightest in the city. The availability rate there is just 4.9 percent (excluding the 1.1 million-square-foot tower at the former Verizon building at 375 Pearl Street, which CoStar does not list as available), figures from Grubb & Ellis show...