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Deals & Dealmakers

NYCLA sells landmark Vesey Street building

The New York County Lawyers Association is selling its headquarters at 14 Vesey Street and will lease space a Fosun’s 28 Liberty beginning in early 2020.

The association announced that the sale must first be approved by the state Attorney General’s office.

“It marks the beginning of a new chapter allowing NYCLA to better serve the needs of current and future members in a brand new space in a state-of-the-art building that will be an important downtown destination,” said Michael McNamara, NYCLA’s president.

The architectural firm Gensler helped NYCLA plan its new space. CBRE helped NYCLA market its current building, and DLA Piper provided legal representation in connection with the sale and lease at 28 Liberty.

In the past several years, Fosun has completed a total of 1.4 million square feet of office leasing in the 28 Liberty tower. Notable leases include 340,000 s/f for the Office of the New York State Attorney General; 130,000 s/f for media company Wolters Kluwer; 75,000s/f for the London Stock Exchange; and 53,000 s/f for Fosun also managed the construction of 600,000 s/f of turnkey fit-outs in-house.

Fosun has recently completed construction on Marketplace 28, a 200,000 square-foot retail destination at the base of 28 Liberty with multiple street-level access points and glass facades to engage pedestrian traffic and open sightlines.

Marketplace 28, like all of 28 Liberty, is accessible to six subway lines and is a five-minute walk from the Fulton Street transit hub and the World Trade Center transit hub, connecting it to nearly every mass transit line in New York City, and to New Jersey via the PATH.

Alamo Drafthouse Cinema has leased 40,000 s/f in Marketplace 28 for a 600-seat, 10-screen theater that is scheduled to open in the fourth quarter of 2019.

In addition, Legends Hospitality will operate a culinary and live entertainment destination to be designed by Jeffrey Beers in 35,000 square feet of space on the ground floor of Marketplace 28.

At the top of the 28 Liberty town are the Manhatta and Bay Room, the newest restaurant, bar and event venue from Danny Meyer’s Union Square Hospitality Group.

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