NEW YORK CITY-Taking advantage of many of New York City's biggest selling points, a non-profit group has decided to consolidate its four offices across the country—including one in Lower Manhattan—into one new headquarters location in the Big Apple. The organization, AFS-USA has signed a 15 year, 41,000-square-foot lease at 120 Wall St., relocating from One Whitehall St. as well as locations in Baltimore; Portland, Oregon and St. Paul, MN.
Landlord Silverstein Properties was represented by Roger Silverstein and Joe Artusa from the company. AFS-USA—which provides international and intercultural learning experiences to individuals and groups—was advised by Colliers International , which suggested that moving into one office in the nation's most well-known city would provide some distinct advantages.
“With four locations, or even if AFS-USA went to two offices, there were communication issues for the staff and a lot of travel time for senior executives,” says Alan Desino, executive managing director. “The talent of the labor pool in New York, the proximity to mass transportation and the quality of the property made the city the best mix of offerings.”
AFS' new building is a 34-story, 615,000-square-foot class A office building commanding unobstructed views of the East River. It takes an entire block between Pine Street and Maiden Lane and is nearing completion of a capital improvement program to modernize its facade, lobby, and elevator cabs.
But its not just the look of the building that made it a logical place for AFS to hang its hat. 120 Wall St. is one of the few Manhattan office addresses designated as an “association center,”making it part of a 501C3 tax incentive program sponsored by the state of New York. Also, Silverstein has managed to make the building into something of a hub for the non-profit world, an appealing proposition for AFS, Desino says. “The fact that there were other non-profits there gave AFS a lot of comfort. The organization knew the other groups and it was able to speak to them about Silverstein—and everything that was heard was positive.”
Other associations at the building include the American Institute of Chemical Engineers, American Foundation for AIDS Research, Jewish Child Care Association, National Urban League, Freedom House, and Children Tumor Foundation,
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
