Manhattan, NY GFP Real Estate, LLC said that Acumen Fund, Inc., a non-profit impact investment organization, has signed an 11-year lease extension for its 11,743 s/f of office condominium space at 40 Worth St. in TriBeCa.
Nick Farmakis and John Mambrino of Savills represented the tenant, Acumen Fund in the transaction; Jeffrey Gural, chairman and principal and Roy Lapidus of GFP Real Estate represented the commercial condominium owner/landlord, 40 Worth Street Associates, LLC; Acumen first moved into the building in 2016.
“We are thrilled that Acumen will maintain its presence at 40 Worth while continuing its mission of investing in new technologies and startups that target communities in need,” said Gural.
40 Worth St.. is a neo-classical building, also known as the Merchants Square Building, that was built in 1929 by the architectural firm of Jardine, Hill & Murdock. Situated in upscale Tribeca in Manhattan, the building totals nearly 800,000 s/f, and occupies a full block from Worth St. to Thomas St. between West Broadway and Church St. With large, efficient floorplates and oversized windows throughout, the building offers abundant natural light and exceptional city views, catering to small, medium and large tenants alike. Building tenants include an array of major non-profits including the Acumen Fund, the Legal Aid Society and the Innocence Project.
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