Studley just announced space commitments by two companies in the Financial District.
Platinum Underwriters Reinsurance, Inc. has signed a new 26,206 s/f, 10-year lease on the 42nd floor of 140 Broadway, a property of Union Investment Real Estate GmbH.
And the First Chinese Presbyterian Community Affairs signed a new 8,600 s/f lease at 30 Broad Street.
Platinum, a reinsurance company and the U.S. operating subsidiary of Platinum Underwriters Holdings, Ltd, will relocate from the nearby World Financial Center, where it had been located for more than 10 years.
Studley’s John Johnson, senior managing director, and Marc Shapses, executive managing director, represented the tenant on the transaction. The landlord, 140 BW LLC, was represented by Bob Constable and Willard Overlock at Cushman & Wakefield.
“Since the tenant already had longstanding roots in Battery Park City, we found a perfect fit for the client in the Wall Street area with a full floor and beautiful views,” said Shapses, noting that the 51-story, 1.2 million square-foot tower between Cedar and Liberty Streets, is across from Zuccotti Park, the World Trade Center and the under-construction Fulton Street Transit Hub and Calatrava-designed PATH station.
In the second transaction, the First Chinese Presbyterian Community Affairs took space on the 6th floor of 30 Broad, a landmark art-deco building steps from the New York Stock Exchange and Wall Street. The tenant, a faith based nonprofit organization, will move into the pre-built, fully-furnished office suite this month. Studley commenced rent negotiations at $34.00 psf.
Marc Shapses and Nancy Weinstein, managing director at Studley, represented the tenant, while Richard Doolitle and John P. Howard of Murray Hill Properties represented the landlord, Gotham Realty Holdings.
“We searched the entire downtown market and found an amazing space in move-in condition that includes furniture,” Shapses said, noting that the timing of deal was extremely quick – approximately three months from signing the exclusive agreement to signing the lease. “The deal was very favorable for the tenant.”
