The global investment banking, securities and investment management firm's lease was scheduled to expire in September, 2004. The company extended its lease for a large portion of its existing space at the building through September, 2009. The transaction does not apply to an additional 170,000 sf that the firm occupies under other lease agreements that already extend to the end of 2010 and beyond.

Located at Water and Whitehall Streets, the 50-story, 2.5 million-sf One New York Plaza was completed in 1970 and renovated in 1995. The property was acquired by a Trizec affiliate in 1999. The site commands unobstructed views of the New York Harbor, East River and Battery Park, is accessible to 13 local subway lines along with ferry and helicopter transportation, and is close to restaurants, shops and other services. Other tenants include Prudential Securities, Smith Barney Inc. and the Battery Park Conservancy.