With downtown leasing activity continuing at a brisk pace, the Rudin Family, together with investment advisor and asset manager Allianz Real Estate of America, announced today that two companies have signed leases totaling 32,094 square feet at One Battery Park Plaza, a 35-story office tower in Lower Manhattan.
In the largest transaction, CetraRuddy, an award-winning New York City-based architecture and interior design firm, has finalized an 11-year, 22,894 square-foot lease comprising a portion of the 8th floor. The company, which is known for major residential design projects such as 200 East 59th Street, Walker Tower and One Madison, expects to relocate from 584 Broadway in SoHo to the building in the fourth quarter of 2017.
Also signing is nonprofit organization Global Impact Investing Network, Inc. (GIIN), which is taking 9,200 square feet on a portion of the 2nd floor for a 10-year term. The firm is currently located at 30 Broad Street and plans to relocate in fall 2017.
The new leases for CetraRuddy and GIIN continues an impressive surge of leasing activity at the property. Over the last several years, Rudin has signed several new leases and renewals in the building, including a 226,416 square-foot lease for international law firm Hughes, Hubbard & Reed; an 11,741 square-foot lease for nonprofit organization National Development Council (NDC); and a 27,409-square-foot lease for San Francisco-based law firm Gordon & Rees.
“These transactions reinforce the emergence of One Battery Park Plaza and Lower Manhattan as a destination for creative companies and nonprofits as well as our valued financial services and law firm clients,” said Bill Rudin, Co-Vice Chairman and CEO of Rudin Management Company, the operating arm of Rudin Family holdings. “CetraRuddy and GIIN will certainly benefit from our building’s outstanding downtown location, newly renovated lobby and elevators, high speed connectivity, close proximity to transit and stunning views of Battery Park, the New York Harbor and the Statue of Liberty.”
Wen-Hua Yang, Operations Director of the Global Impact Investing Network, said, “Our move has been prompted by the growth in size of our organization, necessitating more office space than we currently have. Lower Manhattan remains an excellent value-for-money location, and we are confident One Battery Park Plaza will be a good home for the GIIN for years to come.”
Michael Cohen and Andrew Roos of Colliers International represented CetraRuddy in the leasing transaction, while Zachary Price and Ramsey Feher of CBRE represented GIIN. Kevin Daly, Vice President of Commercial Leasing at Rudin Management Company, represented building ownership in-house in both transactions.
One Battery Park Plaza was constructed in 1970 by the Rudin and Rose families. In 2012, the Rudin Family acquired the Rose family’s 50% stake in the property and had retained 100% ownership until forming a joint venture with Allianz Real Estate.
Situated between the Battery and Whitehall Street, One Battery Park Plaza is widely acknowledged as one of downtown’s most accessible and visible addresses. The building features magnificent views of the New York Harbor, state-of-the-art broadband connectivity and a 24/7 attended lobby. The property’s major tenants include Seward & Kissel, Partnership for New York City, Liberty Mutual Insurance Company and Meridian Capital.
In addition to One Battery Park Plaza, the Rudin family’s prestigious portfolio of downtown properties includes 80 Pine Street, 55 Broad Street, One Whitehall Street, 110 Wall Street and 32 Avenue of the Americas.
About Rudin Management Company
Rudin Management Company, which serves as leasing and managing agent for One Battery Park Plaza, is a full service real estate organization managing the interests of the Rudin Family, which owns and manages one of the largest private property portfolios in New York City. Among its real estate holdings are 16 office buildings containing approximately 10 million square feet of space and 20 apartment buildings comprising over four million square feet of residences.
About Allianz Real Estate
Allianz Real Estate is the strategic center of expertise in real estate within the Allianz Group and a leading international real estate investment and asset manager. Allianz Real Estate has approximately €50 bn assets under management.
Allianz Real Estate of America is responsible for equity and commercial mortgage loan investments in the Americas. Allianz Real Estate of America, based in New York, has a portfolio of over $14 billion with its holdings diversified across more than 30 metro markets and property types spanning office, multi-family, retail, and industrial.
