Iconic Skyscraper signs Five Leases to a Diverse Mix of Global Tenants; New Prebuilt Floor Has Preleased Two of the Three Units Before Construction Commenced
RFR Realty, LLC announced today five newly signed transactions at 17 State Street, a 42-story office tower that is a defining part of Lower Manhattan’s skyline.Two of the transactions took place on RFR’s new prebuilt floor on the 35th story of the building, where the firm has already preleased two of the three units before construction commenced. Due to this success, ownership is prebuilding the entire 33rd floor to accommodate the demand.
RFR’s Director of Leasing AJ Camhi and Vice President of Leasing Ryan Silverman, along with Jones Lang LaSalle’s Mitchell Konsker, John Wheeler and Clayton Kline represented the landlord in each of the deals.
Singapore’s central bank, the Monetary Authority of Singapore (MAS), one of the original tenants of 17 State has occupied space in the property since it was built in 1989. MAS signed a long-termlease for a new prebuilt unit on the 35th floor. The tenant, which promotes sustained economic growth through monetary policy previously occupied a portion of the 25th floor.Andrew Hawkins of Foundry Commercial and Michael Gochmanof the GochmanGroup represented the tenant in the negotiations.
Rocky Mountain Institute (RIM) also signed a lease for a new prebuilt unit on the 35th floor. The nonprofit is a global leader in energy conservation policy. Co-founded in 1982 by Amory Lovins, RMI’s chairman and chief scientist, the company now has approximately 180 fulltime staff, annual operations of $42 million and a global reach and reputation. Eric Ferriello and Stan Wiel of Colliers International acted on behalf of the tenant.
ThinkEquity, LLC leased a portion of the 22nd floor on a long-term basis. The firm provides institutional brokerage, investment bankingand asset management services to small and middle-market public and privately held companies and individuals.Tom Reilly of Thomas P. Reilly & Co. acted on behalf of the tenant.
Trinity Place Holdings, Inc. signed a lease on the 21st floor.Founded in 2012 and headquartered in New York City, thepublicly traded real estate firmLed by President and CEO Matthew Messinger has over 500,000 square feet in active management and/or under development.The tenant was represented by Richard Warshauer of Colliers International.
AM RE Syndicate LLC, a global reinsurance company with offices in London and New York that specializes in Ocean Marine, Inland Marine and General Aviation and Offshore Energy, signed a lease for a Prebuilt unit on the sixth floor. The space features unique high end creative finishes and an open layout. The firm is relocating from 55 Broad Street. The tenant was represented by Michael Bolton of Interrelate Group.
“Bolstering and maintaining ourtenant roster is incredibly important to us and we’re pleased that the building’s superior location – with stunning views of New York Harbor, the Statue of Liberty and Battery Park- remain an attractive draw for such highly respected global companies who have the choice the lease space anywhere in New York. It means a lot to us that they chose 17 State Street as their home,” said Mr. Camhi.
Since acquiring the property, RFR has executed a capital improvement program that included elevator modernization and aesthetic improvements to the corridors, lobby, public art plaza and high-end pre-built program.
Designed by Emery Roth and Sons, 17 State Street, which is situated on the corner of State and Pearl streets, offers outstanding access to transportation, restaurants, shopping and culture. The historic, distinctly elliptical-shaped property is close to multiple subway lines, ferries to Staten Island and New Jersey, the New York Water Taxi and the Downtown Heliport.
About RFR
RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990’s, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR’s portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.
