Real Estate Weekly
Image default
Deals & DealmakersFeatured

Toll Brothers, Human Rights First lead 75 Broad leasing surge

75 Broad Street
75 Broad Street

Toll Brothers and the non-profit, Human Rights First, have led a 75,000 s/f leasing drive at JEMB Realty’s 75 Broad Street.

The Manhattan-based owned announced today (Tuesday) that the 33-story tower has reached 90 percent occupancy.

Morris Jerome, principal of JEMB Realty, said, “Tenants searching the revitalized Downtown Manhattan market, especially so-called TAMI tenants in the growing technology, advertising, media and information industries, are drawn to 75 Broad Street for its beautiful pre-war architecture, unparalleled connectivity and back-up power capacity.

“Both corporate and creative clients benefit from a completely modernized pre-war building in a great Downtown location, combined with owner flexibility and accommodating build-out options at this unique and irreplaceable asset.”

Built in 1927 as the headquarters of ITT Corp., one of the first international telephone and telegraph giants, 75 Broad Street has flexible floor plates, 24-hour security, proximity to shopping and transportation and a responsive in-house management team. JEMB Realty acquired the tower in 2000 and initiated a capital improvement program. An additional $10 million renovation is currently underway at the property to upgrade flood walls and improve fuel feeders for  back-up generators in the aftermath of Hurricane Sandy.

Among new tenants at the property, Human Rights First, an independent advocacy and action organization, topped the list of new leases by taking two full floors totaling nearly 18,000 s/f. Carri Lyon, Robert Lowe and Kevin Daly of Cushman & Wakefield represented the tenant in the lease.

StellaService, an independent provider of customer service performance data and analytics for online retailers, expanded their presence at 75 Broad by 10,000 s/f in an expansion and renewal with JEMB. Patrice Meagher of CBRE represented the tenant in the deal.

“The prime Lower Manhattan location, attractive lobby and modern amenities are what attract and retain top corporate and commercial users at 75 Broad Street,” said Frank Cento of Cushman & Wakefield, who represented ownership in eight of the 10 new deals. “JEMB’s ability to provide tenants with an on-site architectural team, complete new installation and professional tenant build-outs has become the firm’s competitive advantage.”

Toll Brothers, the luxury home builder, selected 75 Broad Street for its new Downtown Manhattan headquarters in a deal arranged directly by Louis Jerome of JEMB Realty.

Sun & Moon Marketing, a real estate marketing and branding firm, leased a partial floor of nearly 7,000 s/f, repped by Robert Constable and Willard Overlock of Cushman & Wakefield.

Kenneth Beilin of Beilin Commercial Real Estate repped new tenants Design Quadrant, a full service design and architectural firm, and Prodotti Mediterranei, Inc., an international food company, in leases totaling nearly 7,500 s/f.

In additional partial floor leases totaling nearly 20,000 s/f, Blue Engine, an education service, was repped by Jordan Rosenlicht and Lindsay Ornstein of Transwestern in a partial floor lease. Health Corps, an in-school and community program, was repped by Robert Taylor of SRS Real Estate Partners. Cooper Carry, a design firm , was repped by Carri Lyon of Cushman & Wakefield. Law firm Johnson Gallagher Magliery was repped by George Keller and Peter Cento of Cushman & Wakefield.

About 60,000 s/f of office space remains available at 75 Broad Street. The remaining units range from 5,756 s/f to a full floor of 10,113 s/f.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million


Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building


AI and cloud adoption propel data center demand to record levels for 2023