SYSTRA Consulting, Schpoont & Cavallo LLP and Squash and Education Alliance Among New Arrivals at the 30-Story, 425,000 SF Downtown Office Tower
In a series of separate transactions at 55 Broad Street, The Rudin Family announced today that three tenants have signed new leases totaling 19,579 square feet at the 30-story, 425,000 square-foot downtown property.
Paris-based engineering consultant SYSTRA Consulting has completed a 10-year, 14,295 square-foot lease on a portion of the 5th floor. The firm, which specializes in planning, operations, engineering, design, program management and construction management, will move its U.S. headquarters from 520 Eighth Avenue to 55 Broad Street in spring 2020.
Rudin has also finalized new leases with boutique law firm Schpoont & Cavallo LLP (3,672 square feet) on the 18th floor and nonprofit organization Squash and Education Alliance (SEA) (1,612 square feet) on the 14th floor for a pre-built suite. The law firm, which specializes in matrimonial and family law, expects to move from 101 Greenwich Street to the building in spring 2020, while SEA took occupancy in November 2019.
The new transactions continue a period of successful leasing activity at 55 Broad Street. Over the last 12 months, Rudin has completed a number of new leases and expansions at the property, including fintech company Dailypay, residential property management company Solstice Residential Group, architectural firm Curtis + Ginsberg Architects LLP, and online gambling operator Unibet Interactive, Inc. Other major tenants at the building include Crown Castle Fiber, PJ Mechanical, City Year and Statista.
The property has also benefited from a multi-million dollar lobby renovation that was completed in 2019. Designed by Fogarty Finger, 55 Broad Street’s new lobby features white marble interiors, textured terrazzo floors, ornamental marble and a highly reflective ceiling that brings more light into the space.
“The tremendous interest and uptick in leasing volume at 55 Broad Street is a key example of the strength of the Lower Manhattan office market, which ended 2019 on a high note and had one of its best quarters to date,” said Michael Rudin, Senior Vice President at Rudin Management Company. “Over the years, we’ve made significant investments in the building, and the renovations have been extremely well-received in the marketplace. We’re thrilled with the results, and look forward to completing our leasing campaign in the coming months.”
SYSTRA Consulting, Inc. was represented by Lance Leighton, Evan Margolin, and Charles Goldman of Savills. Schpoont & Cavallo, LLP was represented by Michael Hennessy of Park Avenue International Partners. Squash and Education Alliance was represented by Peter Cipriano of Savills. Building ownership was represented by Kevin Daly at Rudin Management Company in all three transactions.
Developed by the Rudin Family in the early 1960s and designed by Emery Roth & Sons, 55 Broad Street has long been regarded as one of the most significant smart buildings in the history of Lower Manhattan. In 1995, it became the first fully wired office building in New York City. The property is Wired Certified Platinum for best-in-class connectivity.
According to Mr. Daly, Rudin is currently marketing a number of pre-built office suites ranging in size from 2,000 square feet to 7,000 square feet, with an asking rent of $52 per square foot. The property is currently 95% occupied.
In addition to 55 Broad Street, the Rudin Family’s prestigious portfolio of downtown properties include One Battery Park Plaza, 80 Pine Street, 110 Wall Street and 32 Avenue of the Americas.
About The Rudin Family
Rudin Management Company is a full service real estate organization managing the interests of the Rudin Family, which owns and operates one of the largest privately held real estate portfolios in New York City. Among its real estate holdings, which includes the high-tech Dock 72 office tower at Brooklyn Navy Yard, are 16 commercial office buildings containing approximately 10.5 million square feet of space and 18 apartment buildings comprising over four million square feet of residences. For more information about Rudin Management Company, please visit https://www.rudin.com/.
