Silverstein Properties is barking up the right tree with its latest office lease at 120 Broadway, otherwise known as the Equitable Building.
Pet supply subscription company Bark is taking 52,000 square feet at the Financial District building, the Commercial Observer reported. The company will occupy the entire 12th floor.
Bark will relocate from its digs at 221 Canal Street by next fall, according to the outlet. The company signed a 15-year lease for its space at 120 Broadway, though asking rents for the space were not revealed.
According to the Observer, Silverstein laid down $52 million in 2019 in an effort to restore the building to its original condition. In addition to its office space, Bark employees will also have access to a 20,000-square-foot rooftop space.
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Joseph Artusa and Camille McGratty helped broker the deal on behalf of Silverstein. Greg Taubin of Savills brokered the deal on behalf of BarkBox.
Bark’s fellow tenants at 120 Broadway include engineering firm Thornton Tomasetti, which signed a 15-year lease for 102,000 square feet towards the beginning of 2020. At the time, asking rents in the building ranged from $62 to $74 per square foot.
It has been a big week for office leasing in Silverstein buildings. Crain’s reported on Nov. 18 that mattress retailer Casper Sleep signed advertiser marketplace Index Exchange to a sublease at 3 World Trade Center for 43,000 square feet. That lease is scheduled to run through December 2034.
Manhattan’s office market is still soaring following its biggest month since the pandemic began. Tenants signed leases for 2.7 million square feet of office space in October, up 10.8 percent from September. Average asking rents climbed 1.3 percent from September to $73.66 per square foot.
[CO] — Holden Walter-Warner