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Harbor Group’s 55 Broadway Draws Tenants from Planned Resi Conversions
CBRE has completed several office leases totaling 77,000 square feet at 55 Broadway in the past six months. The most recent new commitments were from AFS Intercultural Programs, Argus Research Group, Axon Health and Meaden & Moore. In addition to the new transactions, several existing tenants executed renewals and in-building expansions, including Summit Management, 1000 Heads, Syscom and Rozario Touma.
The CBRE team of Brad Gerla, Jonathan Cope and Hayden Pascal represented ownership of 55 Broadway, along with Cordelia Meserow, VP of asset management at landlord Harbor Group International. Affiliates of Harbor Group purchased 55 Broadway in 2014.
“55 Broadway experienced incredible leasing activity over the last six months with new commitments, renewals, and expansions all taking place within this Financial District gem,” said Gerla.
Notably, the four newest tenants were relocating from office properties with plans for future residential conversion, an ongoing trend in Lower Manhattan. “With residential conversions and very little new development in the area, high-quality, well-located office buildings like 55 Broadway are only set to benefit from an increasingly supply-constrained submarket,” said Meserow.
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