NEW YORK, NY – RFR Realty LLC today announced three new office leases totaling 14,409 square feet at 17 State Street, the blue glass gem of the Lower Manhattan skyline. Located in the Financial District across the street from Battery Park, and offering unobstructed views of New York Harbor, the Statute of Liberty, and Ellis Island, the architecturally unique 42-story skyscraper has attracted several more financial tenants, two of which are relocating from Midtown.
National Liability & Fire Insurance Company, a Berkshire Hathaway company, leased 8,511 square feet on the 22nd Floor. Hale Capital Management L.P., which is relocating to 17 State Street from a tower floor at 570 Lexington Avenue, leased 3,898 square feet on the 32nd floor. In another Midtown relocation move, Charlestown Capital Advisors LLC leased 2,000 square feet on the 38th Floor at 17 State Street and will vacate its current space at 1325 Avenue of the Americas. Asking rents at the signature property are in the $60 per square foot range.
“The momentum at 17 State Street continues to be outstanding. In addition to the deals announced today, there are leases out with four more tenants totaling an additional 40,000 square feet,” said Steve Morrows, Executive Vice President and Director of Leasing of RFR Realty.
“The property has tremendous natural appeal given its architecture and prominence in the skyline, and RFR has made a real commitment to improving the common spaces and modernizing the elevators and other systems,” added AJ Camhi, Vice President of RFR Realty. “The rotating art program, currently featuring two Keith Haring sculptures and dramatic modern art by Carsten Höller, is the perfect complement for the aesthetic improvements to the corridors, lobby, and plaza. The net result is that tenants want to be here. RFR has made 17 State Street into an address that competes with the finest of New York.”
RFR offers a high-end prebuilt program at 17 State Street, and Hale Capital Management will be occupying one of the new prebuilt units. “Our finely finished prebuilts consist of all-glass fronts, which enhance the remarkable views throughout the premises. As a result, we had multiple offers and the space leased before construction of the interior was completed,” Morrows said.
Including the tenants announced today, the RFR team has signed 70,000 square feet of new leases at 17 State Street in the past few months. For example, in August, internet consulting and development provider Six Dimensions signed a 4,507-square-foot lease on the fourth floor of the signature property, while startup trading firm FDN Enterprises LLC and money manager Granger Management Holdings LLC took 3,270 square feet on floor 38th and 3,263 square feet on floor 32nd, respectively. The law firm Nelson Levine De Luca & Hamilton committed in July to a long-term lease of 29,386 square feet covering the entire 29th and 30th floors, after deciding to relocate from Battery Park Plaza.
National Liability & Fire Insurance was represented in the lease negotiations by John P. Barry of Richards Barry Joyce & Partners and Michael Shakespeare of Colliers International. Hale Capital Management was represented by Jonathan Luttwak and Willard Overlock of Cushman & Wakefield. Charlestown Capital Advisors was represented by Michael Elkin of Interactive Properties. The ownership was represented in-house by Steve P. Morrows, AJ Camhi and Ryan Silverman.