The Lincoln Building Inks Nearly 40,000 SF

NEW YORK CITY-Two significant leases have been signed at the 55-story Lincoln Building, a W&H property at 60 E. 42nd St. Through four separate transactions, Pipeline Financial Group Inc. has expanded its space at the building to bring its total occupancy to more than 25,000 sf. In addition, Haver Analytics signed an early, 10-year renewal for the entire 33rd floor.

Pipeline owns New York City-based Pipeline Trading Systems LLC and operates the Pipeline Alternative Trading System, which enables institutions and brokerage firms to quickly and efficiently trade blocks of NYSE-listed companies, Nasdaq stocks, ADRs, and Exchange Traded Funds. A source close to the deal tells GlobeSt.com that although they cannot disclose the aggregate value of the leases, they did say that the latest average asking rent for the building is $75 per sf.

The source explains that Pipeline had several spaces at the Lincoln Building prior to the expansion; totaling 13,561 sf. Pipeline renewed 6,799 sf and renewed a 6,762-sf lease, both for a total of eight years and seven months. Pipeline also signed a new lease for 7,644 for 11 years and a 3,760-sf lease for 10 years and 10 months, the source reveals.