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Deals & Dealmakers

Downtown’s 75 Broad Street to get new look

JEMB Realty, a privately held real estate development, investment and management company, has retained Newmark Grubb Knight Frank as leasing agent for 75 Broad Street as part of a repositioning effort for the 35-story, 750,000 SF office property.

The repositioning project will include lobby enhancements, state-of-the-art pre-built space and common corridor and bathroom improvements. The building, constructed in 1928, features high ceilings, a historic lobby, superior fiber connectivity, generator power for tenant use and flexible floorplates ranging up to 30,000 SF. JEMB Realty recently completed a post-Sandy improvement program including new and relocated electrical switch gear, a new fuel system and flood gates.

NGKF’s David Falk, president New York Tri-State region, Hal Stein, executive vice president, managing director, Eric Cagner, senior managing director, and Todd Stracci, managing director will manage leasing for the building.

“We look forward to working with the NGKF team to bring this asset to the next level, serving creative tenants by providing flexible pre-built space in a dynamic neighborhood,” said Morris Bailey, principal of JEMB Realty. “Our proximity to Stone Street, Battery Park and abundant mass transit positions the building as an ideal home for young and creative tenants.”

JEMB Realty has begun pre-building units ranging in size from 2,000 square feet to 14,000 square feet to accommodate a variety of tenant requirements. The pre-built units, which are scheduled for completion on May 1, 2016, will feature finishes including polished concrete floors, exposed ceilings, bistro-style kitchens and glass-fronted meeting rooms to maximize the building’s natural light.

“We are pleased to partner with JEMB Realty to help reimagine this classic New York building,” said Cagner. “The building’s access to several subway stations, including the J, Z, R, 2, 3 and 4, 5 trains and the Staten Island Ferry, make it one of downtown Manhattan’s most accessible buildings.”

“The transformation of downtown Manhattan from the traditional financial district to a modern neighborhood with residential complexes, eateries, retail stores and evolving tenant rosters is drawing more and more businesses to the area,” added Stein. “We look forward to meeting the high demand for space Downtown with this high-quality office product.”

JEMB Realty is a privately held real estate development, investment and management company that focuses on commercial, retail, residential and hospitality assets throughout the United States and in Canada project team behind.

Based in New York City, the family owned and operated company is known for hands-on management and tenant-oriented service.

With its Montreal, Quebec-based subsidiary, BUSAC Real Estate, JEMB owns and operates more than 8.2 million square feet of commercial space, including 75 Broad Street, 150 Broadway, and the Herald Center and Herald Towers in New York City, and Place Dupuis, 888 De Maisonneuve Est, and 1200 Magill College in Montreal, Quebec.

 

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