JEMB inks trio of lease deals at repositioned Lower Manhattan property

Manhattan, NY JLL has leased more than 16,000 s/f of office space in a series of transactions at 150 Broadway, a Class-A office property located in the Financial District. 

Owned by JEMB Realty, 150 Broadway has been fully repositioned to accommodate tenants. A new MKDA-designed prebuilt program was recently unveiled, and ownership is constructing a conference/lounge amenity center on the 3rd floor of the building.

In recent months, JLL completed three new leases at 150 Broadway:

• Muse Management signed a seven-year extension to relocate and expand within the building from 3,626 rentable s/f on the 11th floor to 5,423 s/f on the 3rd floor. The tenant was represented by Marcus Rayner and Sam Einhorn of Colliers.
• Rogers Architecture will relocate from Tribeca to occupy 6,286 s/f on the 6th floor under a seven-year lease. The tenant was represented by Ken Fishel of Legacy Real Estate.
• UAP, a growing global art and design studio, signed a seven-year lease for 4,468 s/f on 3rd floor in a relocation from 33 Bond St. in Soho. The tenant was represented by JLL Managing Director Andrew Coe, Vice President Margaux Kelleher, and brokerage Associate Jakob Cohn.

A JLL team led by managing director Joseph Sipala serves as exclusive leasing agent at 150 Broadway and is managing the repositioning of the property, which is currently 87% occupied by a range of creative and business tenants, including Studio Libeskind, the global architecture and design firm led by Daniel Libeskind. The JLL team is currently marketing a range of available pre-built spaces within the building that range from 3,550 to 12,500 s/f. Asking rents are $55.00 per s/f.

“There has been a tremendous amount of movement in Lower Manhattan as tenants readjust their footprints and, in some cases, relocate from properties that are being converted to apartments. 150 Broadway appeals to growing companies like UAP seeking inspired office space in a highly accessible location," said Coe.

According to JLL Research, leasing velocity in Lower Manhattan continues to gain momentum, closing out the first quarter with nearly 1.6 million s/f of leasing activity, nearly matching total leasing for all of 2024. While driven largely by the 980,000 s/f lease by Jane Street Capital at 250 Vesey Street, conversion activity has removed 5.5 million s/f from the market, and the relocation of those tenants to other Downtown buildings has boosted overall leasing velocity.

Located in the Financial District, 150 Broadway is located in the heart of Lower Manhattan near multiple modes of public transportation. It is within walking distance of the Oculus Transportation Hub at the World Trade Center, offering access to the city’s extensive subway system and connectivity to New Jersey via the PATH train network and New York Waterway.