32 Old Slip, Downtown Manhattan
NEW YORK CITY—RXR Realty landed the largest direct new lease in Downtown Manhattan, inking a deal with Cahill Gordon & Reindel for the term of 20 years. The law firm will occupy 201,621 rentable square feet on floors 17-22 at 32 Old Slip. The building is between Front and South streets, overlooking the East River and FDR Drive. The asking rent was $60 per square foot.
Cahill will be moving but staying in the neighborhood, vacating their current office at 80 Pine St. in 2020.
Other tenants at 32 Old Slip include Daiwa Securities Group, Tradition Financial Services and Alliant Insurances Services, Inc. The building features water views, modern infrastructure, column-free floor plates and amenities including a Convene conference center and coffee bar.
“As the largest deal in Downtown Manhattan, it reinforces our long-term vision and investment approach for this asset,” says William Elder, EVP and managing director of RXR's New York City division.
In addition to Elder, RXR's Daniel Birney and CBRE's Robert Alexander, Ryan Alexander, Michael Affronti, Zachary Price and Gerry Miovski represented RXR. Newmark Knight Frank's Moshe Sukenik, Chris Mongeluzo, Eric Zemachson and Tamar Moy represented Cahill.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
