Sage Takes Control of 77 Water St. from Goldman Sachs

Sage Realty Corporation is taking full control of 77 Water Street, a monolithic, 26-story office tower in Manhattan’s Financial District.

The new deal, effective April 1, 2018, will unwind a triple-net lease with Goldman Sachs, which now controls the property. “We are grateful for our relationship with Goldman Sachs over the last 17 years and look forward to them being a tenant at 77 Water Street for the next four years,” said Jonathan Kaufman Iger, CEO of The William Kaufman Organization (WKO), which owns the property in partnership with Principal Real Estate Investors. Iger is also CEO of Sage, which is the management arm of WKO.

Major tenants at 77 Water St. have already agreed to continue at the building once their subleases expire with Goldman Sachs in 2018. These includes law firm Lewis Brisbois Bisgaard & Smith, and the engineering consulting firm Arup.

Built by WKO and designed by Emery Roth & Sons in 1970, 77 Water Street features an open plaza with unusual design touches like the World War I replica fighter plane on the building’s rooftop.

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