NKF Named Leasing Agent for 85 Broad St.
- Jun 07, 2017
Newmark Knight Frank is the exclusive leasing agent for 85 Broad St., the 1.1 million-square-foot Downtown Manhattan office building recently acquired by strategic partners Ivanhoé Cambridge and Callahan Capital Partners for approximately $650 million.
NKF Executive Vice President and Managing Director Hal Stein, Executive Managing Director Andrew Peretz, Managing Director Todd Stracci and Senior Managing Director Ben Shapiro will be handling leasing efforts at the 30-story office tower that has been repositioned for tenants seeking innovative work spaces.
“Ownership’s progressive approach will produce a fantastic offering that will be well received in the marketplace. We are in lock-step on the overall strategy and we couldn’t be more thrilled to be involved,” Stein said in a prepared statement.
The building takes up the full block of Broad Street between South William and Pearl streets in Manhattan’s Financial District. The former Goldman Sachs headquarters, the Class A office tower was built in 1983. MetLife Real Estate acquired the property from Goldman Sachs in June 1985 and sold a 50 percent stake of the building in December 2014 to Beacon Capital Partners. Ivanhoé Cambridge and Callahan Capital Partners announced their acquisition of the building last week.
Previous owners MetLife and Beacon Capital Partners gave the building a recent upgrade, including a new lobby and modern amenities such as a 14,000-square-foot wellness center with a yoga room, bicycle storage room and conference facilities. Newmark Knight Frank also noted the building features a restaurant run by Le Pain Quotidien and a 125-room cafeteria. The building has open, column-free floorplates, views of the East River and access to public transportation including subway lines, buses, Staten Island Ferry and ferries to Brooklyn and New Jersey.
“This property is one of the most unique opportunities for tenants in Downtown Manhattan. For those looking for convenience, innovative amenities, and proximity to Stone Street, which encompasses the social nucleus of Downtown, you really can’t do better,” Peretz said in prepared remarks.
The tower is about 88 percent occupied with tenants including Oppenheimer & Co., WeWork, Nielsen and Vox Media. Oppenheimer moved in 2011, about a year after Goldman Sachs vacated its former headquarters. The building has over 188,000 square feet available for leasing, including spaces between 38,407 and 39,099 square feet, according to the property’s website.