Operating all of the public hospitals and clinics in New York City, HHC will be moving its headquarters off of the fifth floor of 346 Broadway to 55 Water St for a 220,000-square-foot office. The new headquarters will take three of the massive floor plates of 55 Water Street, spanning across the 24th, 25th, and 26th floor in HHC's 20-year lease.
The landlord, New Water Street Corp., was represented by CBRE's Mary Ann Tighe, CEO, New York tri-state region; Brad Gerla, EVP, Howard Fiddle, vice chairman and Evan Haskell, VP. HHC was represented by Robert Ballard, EVP, Cushman & Wakefield.
“It's one of the largest deals completed Downtown recently,” says Brad Gerla, EVP of CBRE. “HHC was looking for a new headquarters for their New York operations and we targeted them as a tenant that would sit well in our building. We're happy that they are making us their home.”
“Most of our leases are large-space users with long term leases,” adds Harry Bridgwood, VP and manager of New Water Street Corp. “We don't roll over on a short-term basis.”
HHC will join an expansive list of tenants who call the 3.8-million-square foot building home, including Standard & Poors, which occupies a 1-million-square-foot space as its headquarters.
New Water Street Corp. also is committed to the long-term viability of the building. Bridgwood adds that the company is moving through the city process of permitting to construct a full barrier system around the building, protecting the tenants from future storm surges.
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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.
