Avison Young arranges 7,383 s/f lease for design and visual effects company in Financial District

Manhattan, NY Avison Young arranged a 7,383 s/f lease on behalf of Phosphene, an independent design and visual effects company, at 90 Broad St. in the Financial District. The company is relocating from its previous space at 5 Hanover Sq., which is being converted to residential.

Avison Young executive director Oliver Petrovic and senior associate Story Langston represented Phosphene. Cushman & Wakefield’s Jon Fein represented the landlord, Princeton International.

“The conversion pipeline is steadily reducing the supply of office space, making it increasingly important for tenants to plan ahead and act decisively,” said Petrovic. “For this client, the relocation became an opportunity to create a purpose-built environment that better aligns with the needs of a growing post-production company.”

90 Broad St. is a class A office building spanning a full block between Stone and Bridge Sts. Designed by Cross & Cross Architects and completed in 1932, the building features a dramatic Beaux Arts style lobby with barrel-vaulted gold-leaf ceiling and boasts spectacular views of Manhattan Harbor and Lower Manhattan landmarks.

“The challenge of moving a visual effects studio is always an under-estimated real estate task,” said Vivian Connelly, CEO of Phosphene. “Oliver and his team understood the task at hand and navigated the NYC real estate climate intelligently and efficiently. We are looking forward to our new and improved fully customized space.”

Princeton International Properties is a Manhattan-based, privately held full-service, real estate investment company with integrated in-house property and asset management capabilities. The company was founded in 1978 and specializes in New York City office buildings, medical centers and retail properties; however, the firm invests in all types of real estate investment opportunities.