Silverstein Properties complete eight new lease signings at 120 Broadway

New York, NY Silverstein Properties, one of New York City’s leading real estate development and management companies, has completed eight new lease signings at 120 Broadway totaling more than 145,000 s/f. Recent lease signings include:

• The Original BARK Company signed a lease for 51,220 s/f. The company behind BarkBox will move into an entire floor in Q4 2022.
• The Brennan Center for Justice, a nonpartisan law and policy institute, expanded from 24,409 square feet to 49,885 s/f.
• The Capital Grille renewed its lease for 12,559 s/f. The restaurant has been a 3-floor tenant in the building since 2008.
• The Domain Companies, a real estate investment and development firm, signed a lease for 7,434 s/f. The company plans to relocate from 11 Park Place in summer 2022.
• Kasirer, a leading full-service New York lobbying and government relations firm, signed a lease for 11,035 s/f. The company has moved from 321 Broadway.
• MBF Trading, a proprietary trading firm, signed a lease for 3,707 s/f. The company relocated last month from Brookfield Place.
• Rothesay Asset Management US, the American subsidiary of British insurance company Rothesay, signed a lease for 8,039 s/f. The company plans to relocate in summer 2022.
• U.S. Securities renewed a lease for 1,710 s/f. The company has been a tenant at 120 Broadway for 41 years.

“We are excited to welcome so many new companies to 120 Broadway,” said Joseph Artusa, senior vice president of leasing at Silverstein Properties. “We are also delighted that many of our existing tenants are planning their future in the building. These leases reflect a larger trend we are seeing of dynamic, creative and technology companies with younger employees moving to the easily accessible Downtown neighborhood as it continues to evolve into a lively destination for work and entertainment.”

“Each of these companies chose 120 Broadway as their home for different reasons,” said Harlan Strader III, vice president of leasing at Silverstein Properties. “The one thing they all have in common is access to an amenity program unlike anything else in the city. Not just the Bankers Club and Inspire lounge in this building, but amenity spaces in all our North American office buildings, including cafes, cocktail bars, terraces, event spaces, yoga studios, wellness rooms, conferencing, mothering rooms and more.”

These lease signings also reflect the continued recovery of New York City post-pandemic, particularly in Lower Manhattan. According to the Downtown Alliance, Lower Manhattan was the fourth-fastest growing neighborhood in New York City in 2021, and the fastest growing in Manhattan. Last year also saw a recovery in leasing activity, rising 24% over the record low set in 2020. These new tenants at 120 Broadway join an impressive roster of diverse creative tenants already at the building, including Golden Goose, Mediaocean, Beyer Blinder Belle, Macmillan Publishers and Handel Architects.

“The robust leasing activity at 120 Broadway is a sign that tenants are active all across the Lower Manhattan market. Few areas boast the mix of transportation options, dining and shopping and the quintessentially New York cityscape that downtown has,” said Jessica Lappin, president of the Alliance for Downtown New York. “Not many buildings match the qualities ‘120’ has to offer, and we ought to know, our office is here!”

Regarded as Downtown Manhattan’s first emblem of elegance and stature, 120 Broadway was the largest office building in the world when it opened in 1915. The property features a grand lobby with high ceilings, and convenient access to shopping, dining and transportation options at the Fulton Transit Center and the WTC Transportation Hub. The building recently underwent a $50 million-dollar renovation that thoughtfully restored the building’s original architectural features and provided new and exciting tenant amenities such as a revitalized rooftop amenity space, once home to the legendary Bankers Club, which is the largest outdoor space in an office building Downtown. A luxurious 10th floor getaway featuring meeting spaces, breakout areas, a fitness room, a speakeasy and more is coming to the building soon, serving as yet another amenity space attracting top companies and talent to 120 Broadway.

Joseph Artusa and Harlan Strader III represented the landlord in these deals. Greg Taubin of Savills represented The Original BARK Company. Stephen Eynon of CBRE represented The Brennan Center for Justice. Corey Abdo and David Scher of Lee & Associates represented The Domain Companies. Rob Wizenberg of CBRE represented MBF Trading. Reid Longley of Colliers represented Rothesay.