Taking rents were not disclosed, but published reports list upper-floor asking rents in the low to mid $50s per square foot. SOM has been a tenant at the 37-story 14 Wall since 1998.

Since the April 2007 purchase of 14 Wall in a $325-million joint venture with the Carlyle Group, Capstone Equities has put $50 million into capital improvements at the property, achieving more than 90% occupancy in that time. Capstone principal Daniel Ghadamian says in a release that the improvements at 14 Wall, including energy-efficient building systems, "undoubtedly have created an attractive incentive for tenants when faced with the decision to renew their leases." He adds that a combination of his firm's commitment to hands-on ownership and a "top-tier" tenant in SOM "enabled this mutually beneficial transaction to close in a very difficult environment."

SOM was represented in the release by Michael Colacino and David Goldstein, both of Studley. The building's ownership was represented by a CB Richard Ellis team including Howard Fiddle, Brad Gerla, Jonathan Cope, Evan Haskell and Michael Higgins.