Real Estate Weekly
Image default
Deals & Dealmakers

Rudin announces two leases at One Battery Park Plaza

The Rudin Family, together with their partner, investment advisor and asset manager Allianz Real Estate of America, announced that two companies have signed leases totaling 24,530 s/f at One Battery Park Plaza, a 35-story class A office tower in Lower Manhattan.

In the largest transaction, the New York City Fire Pension Fund has finalized a 15-year, 20,679 s/f lease on a portion of the building’s 9th floor.

The organization, which is currently located at the FDNY Headquarters at 9 MetroTech Center in downtown Brooklyn, expects to relocate to One Battery Park Plaza in fall 2018.

Also relocating to the building is independent online news organization Genomeweb LLC, which is taking a five-year, 3,851 s/f lease on a portion of the 8th floor.

The publication, which covers genetics news, science and technology, is currently located at 40 Fulton Street and expects to move to the building later this year.

The new tenants will join architecture firm CetraRuddy, which signed a 22,894 s/f lease on a portion of the 8th floor last year, as well as the Global Impact Investing Network, Inc. (GIIN), which moved to a 9,200 s/f space on the 2nd floor in the fall.

Other major tenants at the property include Hughes Hubbard & Reed, Seward & Kissel, Meridian Capital, Partnership for New York City and Liberty Mutual Insurance Company.

“Bringing two important organizations like the New York City Fire Pension Fund and the growing online media company, Genomeweb LLC, to One Battery Park Plaza is a positive for our building and a win for Lower Manhattan,” said Michael Rudin, Senior Vice President of Rudin Management Company, the operating arm of Rudin Family holdings.

“These commitments are a reflection of the entire downtown market today, which is being driven by strong leasing activity by TAMI tenants and the financial services sector.”

Charles Borrok, Troy Elias and Frank Freda of Cushman & Wakefield represented the New York City Fire Pension Fund in the 15-year leasing transaction, while Robert Wizenberg of CBRE represented Genomeweb in the five-year lease. Tom Keating and Kevin Daly of Rudin Management Company represented building ownership in-house.

Available space at One Battery Park Plaza includes a 9,500 s/f pre-built unit on the 2nd floor and a 6,066 square-foot unit on the 9th floor. Asking rents are $55 per square foot.

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 percent stake and had retained 100 percent ownership until forming a joint venture with Allianz Real Estate.

One Battery Park Plaza is 98 percent leased.

Related posts

Second Avenue subway now open

REW

Cushman duo brings next gen’ office opportunity to market

REW

REBNY to honor SL Green’s Marc Holliday with Distinguished New Yorker Award

REW