The New York office of Cresa, North America’s largest tenant representation firm, secured a 15-year, 38,407 s/f office lease at 85 Broad Street for Year Up, a Boston-based nonprofit that provides support for urban young adults looking to develop their professional careers.
Cresa New York will relocate Year Up to its new Downtown office by the second quarter of 2015.
Year Up was represented by Mark Jaccom and Ed Wartels of Cresa New York in the transaction, while Peter Riguardi, Frank Doyle, Cynthia Wasserberger and Jon Schrifrin of Jones Lang LaSalle represented the landlords, MetLife and Beacon Capital.
“Year Up wanted a new space large enough to accommodate the company’s entire New York City team in a collaborative work environment,” said Wartels.
“The column free floorplans at 85 Broad Street provided a clean pallet for Year Up to build on and design in a way that facilitated more interaction between every division and level of the company.
“Additionally, it was important for the New York City team to relocate to an area of Manhattan that had a very corporate environment. The close proximity of the future location to everything from the New York Stock Exchange and major financial institutions to law firms and insurance companies was a key factor in Year Up’s decision to make this move.”
Year Up is a nonprofit organization with a mission to close the Opportunity Divide by providing urban young adults with the skills and support that will empower them to reach their full potential through professional careers and higher education. Headquartered in Boston, the organization has 13 locations across the US and plans to open two more.
85 Broad Street is a 32-story office building constructed in 1983 by the Skidmore, Owings & Merrill architecture firm.
The building is most widely known as the former headquarters of Goldman Sachs, prior to the investment bank’s relocation to Battery Park City in 2009.