Siebert Cisneros Shank, & Co. (SCSCO) has doubled its real estate commitment at 100 Wall Street in Lower Manhattan.
Colliers International’s Eric Yarbro, Executive Managing Director, represented SCSCO in the transaction, which brought the investment bank to a total of approximately 17,000 s/f in the building.
The expansion will accommodate increased transaction volume, the addition of a quantitative group, an integrated capital markets division, and an expanded transportation group at the bank.
SCSCO is the most prominent minority- and woman-owned investment bank in the United States. 2016 was a milestone year for the corporate and municipal finance firm, which reached $195 billion in transactions — the highest level in its history — spurring the need for larger offices.
SCSCO will now occupy almost the entire 18th floor at 100 Wall Street. According to SCSCO, the new expansion includes an enlarged fixed income trading floor, a new equity trading floor, private offices, work stations, new conference rooms and other improvements and amenities.
In addition to representing SCSCO in the lease transaction at 100 Wall Street, Colliers sourced the contractors, per the mandate of SCSCO, to design the new office and build the space.
Through these efforts, SCSCO achieved an unprecedented 98 percent minority procurement for the project as the contractors sourced were African-American and minority-owned businesses.
“Colliers is committed to helping corporations, property owners and developers achieve and exceed their minority procurement goals in New York and nationally. I was honored to have acted on behalf of SCSCO in its Wall Street expansion, which clearly speaks to the firm’s own commitment to diversity and optimism for the future,” Yarbro said.