According to Cushman & Wakefield, four new lease transactions have been completed at 75 Broad St., a downtown office building located between Beaver and South William Sts. that recently completed a major capital improvement and renovation program.
Cushman & Wakefield, led by Frank Cento, represented JEMB Realty in the four transactions totaling 38,060 s/f. The commercial real estate services firm was appointed exclusive leasing agent on the building in 2005.
In the most recent transaction, The New York City Opera, which was represented by Stephen Powers and Paul Wolf of Denham Wolf, signed a long-term lease to occupy 16,936 s/f on the 10th floor. Other transactions include Craig Michaels, Inc., represented by Mitch Waldman of Cogent Realty, which will occupy 10,200 s/f; On-Line Residential, represented by Ken Beilin of Kenneth Beilin Realty will occupy 7,124 s/f and CTC Americas, Inc., represented by Jonathan Fein of Cushman & Wakefield will occupy 3,800 s/f.
"The strong leasing activity at 75 Broad St. reflects ownership's commitment to offering high-quality space with great value in a building that has just undergone a major capital improvement program to enhance its amenities," said Frank Cento, a Cushman & Wakefield executive director.
Current availabilities in the building range from new prebuilt units of 5,500 and 8,400 s/f, to a full floor of 30,000 s/f.
"The Downtown area is a good alternative to other more expensive areas such as Midtown," said Morris Jerome, a principal and partner at JEMB Realty. "We aggressively sought the New York City Opera to be our tenant because we knew it would have a positive impact at 75 Broad Street and the community at large and its presence will add prestige to an already diversified tenant roster."
75 Broad St., a 32-story office building located next to the New York Stock Exchange, recently completed a $35 million capital improvement program, which included a lobby restoration featuring ceiling murals as well as a holographic building directory, high speed connectivity to any carrier as well as a state-of-the-art security system. The office building also features a state-of-the-art building emergency generator farm.
JEMB Realty Corporation is a real estate development investment and management organization based in New York City. Established in 1990 by Joseph Jerome, JEMB has experienced steadfast growth and has become a well-known and highly regarded real estate player in the United States. Tags: