In a move that brings some 180 employees from cities throughout the United States to a new headquarters in lower Manhattan, Colliers International has arranged a 15 year, 41,000 s/f corporate relocation on behalf of AFS-USA to Silverstein Properties’ 120 Wall Street.
Formerly the American Field Service, AFS-USA is a non-profit that provides international and intercultural learning experiences through a global volunteer partnership. The group decided to consolidate and relocate its four existing offices — one each in Baltimore; Portland, Oregon; St. Paul, Minnesota; and 1 Whitehall Street in Manhattan — to 120 Wall Street. It will occupy the entire fourth floor and space on the third floor when it moves in by the end of 2013.
“After a thorough analysis of the four AFS-USA offices across the U.S., we recommended that they bring their entire team into more efficient, high-end space at one location in Lower Manhattan,” said Alan Desino, an executive managing director with Colliers International, who arranged the lease on behalf of AFS-USA.
Desino noted that AFS was also attracted to 120 Wall Street because it is one of the few Manhattan office addresses designated as an Association Center, and thus part of a 501C3 tax incentive program sponsored by the State of New York.
Roger Silverstein — who represented the landlord inhouse with and Joe Artusa — commented, “For nearly 20 years, 120 Wall Street has been New York City’s exclusive home to not-for profit organizations.
“Not only do these organizations benefit from no real estate tax payments in a first-class modernized building, they are an integral part of the great future of Downtown Manhattan.”
Located on an entire block between Pine Street and Maiden Lane, 120 Wall Street is close to completing a capital improvement program to modernize the building’s facade, lobby, and elevator cabs. Tenants include the American Institute of Chemical Engineers, Foundation for AIDS Research and Children Tumor Foundation.