Kathryn Wylde, president and CEO of the PFNYC, says in a release that the "turnaround" in Lower Manhattan helped drive the decision to stay in the neighborhood. "Transportation and neighborhood amenities have never been better and there is a perfect mix of residential, cultural and business activities that our employees, visitors and members all appreciate," Wylde says. The PFNYC has been located at One Battery Park Plaza since 1994.

Barry Gosin and Hal Stein of Newmark Knight Frank represented the tenant in the long-term leasing transaction while Gene Baumstein of Rudin Management Co. represented the property's ownership. Asking rents at the 750,000-square-foot property, which is also known as 24 State St., are $39 per square foot.

David Rockefeller, who also founded the Downtown-Lower Manhattan Assoc., established the PNYC in 1979 as the New York City Partnership. Reconfigured as the Partnership for New York City in 2002, it consists of 200 CEOs, or "partners," from New York City's leading corporate, investment and entrepreneurial firms, including Rudin Management and several other major real estate companies. Its stated mission is "to enhance the economy of the five boroughs of New York City and maintain the city's position as the center of world commerce, finance and innovation." The group's economic development arm is the New York City Investment Fund.