Avison Young announced that it has been engaged to identify a long-term net lessee for 250 Church Street, also known as 101 Franklin Street, in TriBeCa. The 205,600-square-foot, Class A, 16-story tower, is situated on on Church Street between Franklin and Leonard streets. It is anticipated that the new long-term net lessee will be required by ownership to redevelop the property into a cutting-edge Class A office building, a first class residential rental building or a boutique hotel.
The building is currently occupied by the NYC Department of Human Resources but the tenant will be relocating and vacating the building in August 2017. The Avison Young Investment Sales team, comprising Principals, Vincent Carrega, Jon Epstein, Neil Helman and Charles Kingsley will manage the assignment to procure a net lessee on behalf of ownership.