News: Brokerage

SHoP Architects. signs long-term renewal/expansion at Woolworth Building

Photo credit Chris Coe

Manhattan, NY According to Cammeby’s, a development, investment, management, and leasing company, long-term office tenant SHoP Architects (SHoP) has signed a 15-year lease renewal and expansion totaling 56,000 s/f at the Woolworth Building. SHoP will continue to occupy 28,098 s/f on the 11th floor and 22,612 s/f on the 10th floor, while expanding by an additional 5,486 s/f to occupy the entirety of both floors. The Woolworth Building has served as SHoP’s New York City headquarters since 2013.

Brian Siegel of The Lawrence Group represented both SHoP Architects and the landlord in the transaction.

“We aim to create iconic spaces for our clients. As such, our place of work must be a source of inspiration — something the Woolworth Building has embodied for more than a century, from its history and mystery to its service and grandeur,” said SHoP principal Gregg Pasquarelli. “As our second home in the city, the Woolworth Building is where we continue to innovate and grow. It’s an exciting time to be at SHoP and in downtown Manhattan.”

Founded nearly 30 years ago, SHoP is committed to the design of buildings and environments that improve the quality of public life. With an interdisciplinary staff of 150 people designing critical sites around the world, notable projects include 111 West 57th St.; The Brooklyn Tower; the YouTube headquarters in San Bruno; the master plan for Detroit’s Hudson’s Site redevelopment; U.S. embassies in Bangkok, Tegucigalpa and soon, Milan; and Atlassian Central Tower, set to open later this year in Sydney.

The SHoP lease announcement is one of many to come from the developers of the iconic building, which is amid a transformation focused on aesthetic enhancements, activations and more to establish the Woolworth as a downtown Manhattan creative hub. This includes activating the 26th floor as a cultural canvas, with Cammeby’s inviting emerging brands, artists, and creative partners to temporarily transform the white box, open-format space through curated experiences, pop-ups, and community-driven programming as part of a broader effort to foster creativity and cultural exchange within the building.

“Our bigger picture goal to reshape and reimagine this historic building is inspired by long-term tenants who continue to build their businesses and thrive within the walls of the Woolworth,” said Cammeby’s principal, Avi Schron. “SHoP Architects is an exceptional firm doing exceptional work. We’re thrilled to continue our partnership.”

Completed in 1913 and designed by architect Cass Gilbert, the 57-story, 792-ft. Woolworth Building was once the tallest building in the world and remains one of New York City’s most celebrated landmarks. The building is both exterior- and interior-landmarked, with its Gothic lobby regarded as one of the most significant public interiors in the city. The Woolworth Building is home to a mix of architecture, fashion, experiential marketing, nonprofit, and institutional tenants, including SHoP Architects, Modellus Novus, Altuzarra, Blueprint NYC, Allied Global Marketing, the NYC Law Department, and Accenture Federal Services. In 2026, two new curated restaurant concepts will debut at the base of the building.

In 2025, Cammeby’s executed more than 120,000 s/f of leasing activity in the building, including 43,000 s/f of new leases, over 10,000 s/f of tenant relocations, and nearly 66,000 s/f of renewals and extensions by long-term tenants — reinforcing sustained demand and long-term stability at the landmark.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

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,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking