
Manhattan, NY CBRE completed a 37,031 s/f office lease renewal at 14 Wall St. in the Financial District. Regus, one of the world’s largest providers of flexible workspace solutions, will continue to occupy the entire 20th floor of the office tower.
The CBRE team led by Bradley Gerla, Jon Cope, Mike Rizzo and Masha Dudelzak spearheaded the marketing efforts for the 1.1 million s/f downtown office tower and represented the ownership, ROZA 14W LLC, in the lease negotiations. The asking rent was $50 per s/f.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,