Real Estate Weekly
Image default
Deals & DealmakersFeatured

Silverstein signs 14,000 s/f lease at 120 Wall

Silverstein Properties announced that the Nathan Cummings Foundation (NCF), a nonprofit grantmaking foundation, has signed a 12-year, 13,751 s/f lease at 120 Wall Street in Downtown Manhattan.

Currently located at 475 10th Avenue, the organization is slated to move to its new location in January 2021. 

The foundation will join a variety of nonprofit building tenants at 120 Wall Street, including Girls Inc., Excess Line Association of New York, amfAR and Catalyst.

The office building also provides qualified 501(c)(3) and 501(c)(6) organizations with access to a full real estate tax abatement program.

“Silverstein Properties is delighted to welcome NCF to 120 Wall Street,” said Harlan Strader III of Silverstein Properties. “When they join us next year, 120 Wall’s proximity to major transit hubs, restaurants and amenities will grant NCF the ability to grow safely in a Class A building.”

“As a foundation, our mission and values are integral to every decision we make,” said Jaimie Mayer, Board Chair at NCF. “Finding an office space that embodies our commitment to social justice and equity was of utmost importance to us. We look forward to calling 120 Wall Street our new home.”

120 Wall Street

Across Silverstein Properties’ portfolio, tenants now have access to a new hospitality program, INSPIRE your Day, that offers hotel-quality amenities and access to neighborhood perks, daily fitness classes and monthly social events through an on-site concierge. These services are all accessible to tenants via a dedicated app.

Strader led negotiations on behalf of Silverstein. The Nathan Cummings Foundation was represented by Executive Managing Director/National Not-for-Profit Advisory Group Co-Chair Carri Lyon, Executive Director Yarden Drimmer and Director Matthew Fisher of Cushman & Wakefield.

“The move will also allow the foundation to devote more of its resources to its core mission, and we are proud to have been a part of that,” said Drimmer, Executive Director at Cushman & Wakefield.

Related posts

Turn-of-the-Century Townhouse in West End Historic District Sold for $6M


Parkland Communities Names Dynamic Duo Nick Patti and Ian Young as New Directors


JLL Income Property Trust Surpasses $1 Billion of Capital Raised in JLL Exchange Program