GFP Real Estate leases 21,031 s/f at 40 Exchange Place in FiDi

Manhattan, NY GFP Real Estate, LLC has signed 20,031 s/f of new lease transactions at 40 Exchange Place in the Financial District.

Allen Gurevich, senior managing director of GFP Real Estate, represented the owner, GFP Real Estate, in each of the following transactions. Although the terms of the deals were not disclosed, asking rents at the building are approximately $45 per s/f.

• a360 Media, whose titles include well-known brands in celebrity/entertainment, women’s lifestyle, and Special Interest Publications (SIPs) engaging over 75 million consumers each month across multichannel platforms including digital, magazine, and social media channels, signed a new four-year lease for 15,000 s/f at the building, the entire 8^th floor. James Emden of Helmsley Spear represented the tenant in the transaction.

The space, which was previously occupied by Knotel, will be used for the company’s general and executive offices. GFP Real Estate will build out several offices and conference rooms for the company, which is expected to move in May.  a360 media is the media arm of accelerate360, an omnichannel distribution, data and media company that provides customized solutions for consumer product brands and retailers.

• The Epilepsy Foundation of Metro New York, the premier social-service agency providing support to people living with epilepsy, or impacted by epilepsy, signed a new 10-and-a-half-year lease for 2,800 s/f on the 17^th floor. Ellen Herman of JLL represented the tenant in the transaction.  GFP Real Estate will build out offices, a kitchenette, a computer lab and a conference room for the non-profit, which is expected to move in July. The Epilepsy Foundation of Metro New York is currently located at 65 Broadway.

• Siren Management Corp., a full-service residential real estate management company with more than 25 years of experience, signed a new four-year lease extension for 3,231 s/f on the 19^th floor.  Jon Fein of Cushman & Wakefield represented the tenant in the transaction.

“40 Exchange Place continues to attract non-profits and creative firms looking for a great location in a historic building offering modern, loft-like office spaces,” said Brian Steinwurtzel, co-CEO and principal of GFP Real Estate. 

40 Exchange Place, formerly known as the Lord’s Court Building, was completed in 1893 by the architect John Townsend Williams. The building serves as a hub for innovation in the heart of the Financial District of Lower Manhattan and served as the headquarters for the New York Stock Exchange from 1856 to 1865. Various office spaces are available ranging from 1,000 to 15,000 s/f and provide flexible yet efficient layouts to accommodate the needs of every tenant.

The historic 20-story building has been renovated and re-imagined as the workplace it is today and enjoys the numerous transportations connections serving Wall St. and the wider Financial District as well as a wide range of dining and retail options.