Blackstone Affiliate Signs New Lease Deals at 44 Wall Street
- Oct 27, 2016
By Ioana Neamt
New York—Blackstone Group affiliate Equity Office has signed a new lease with Murmuration Inc. and renewed The Focal Point LLC’s existing lease at 44 Wall St., in New York City’s historic Financial District.
Murmuration, a non-profit organization that provides information, infrastructure and support for children’s education-related public advocacy and community building efforts, has signed a five-year, partial-floor lease to take over 3,681 square feet of pre-built space at the Wall Street office tower. The company will relocate its new headquarters from 379 W. Broadway in SoHo to the fifth floor of 44 Wall St., by the end of the month.
Leading trial consulting firm The Focal Point currently occupies 2,331 square feet of office space on the building’s ninth floor, and will continue to operate at the site for four additional years. The company has been a tenant at 44 Wall St., since 2013.
“44 Wall Street continues to appeal to emerging companies, especially in the law and finance sectors, which are looking for efficient, pre-built space to hit the ground running in New York,” Scott Silverstein of Equity Office said in a statement. “The location is ideal as it sits in the heart of the Financial District and, with our upcoming renovation, this historic building will soon offer more modern amenities to better cater our tenants.”
Built in 1927, the 345,000-square-foot tower at 44 Wall St. incorporates both office and retail space across 24 floors. The building is also home to law firm Cullen and Dykman, insurance company TitleVest and brokerage and banking firm Charles Schwab. Equity Office acquired the building in June and is currently modernizing it by revamping the lobby and constructing multiple pre-built floors.
CBRE’s Adam Foster, Caroline Merck, Zachary Price and Michael Rizzo represented the owners in the lease negotiations. Scott Silverstein and Zachary Freeman of Equity Office represented Equity in-house. LSL Advisors’ Camilo Amaya represented Murmuration, while Barry Spagna of Cresa Partners LLC represented The Focal Point.
Image courtesy of Yardi Matrix