61 Broadway/ Image credit: RXR Realty
NEW YORK CITY—Knotel has signed a lease for the entire ninth, 10th, 17th and 18th floors at 61 Broadway. The 786,975 square-foot Lower Manhattan office tower is at the corner of Broadway and Exchange Alley, stretching to Trinity Place.
“We are excited to be partnering with one of New York's leading owner/operators, RXR, at 61 Broadway,” says Eugene Lee, global head of real estate & business development at Knotel. “This is a strategic step that reflects flexible real estate needs and the growing opportunities in the Lower Manhattan market.”
RXR Realty bought the building for renovation in May 2014 from a joint venture of Broad Street Development and Heyman Properties for $330 million, according to Real Capital Analytics. When the building was completed in 1914, it was called the Adams Express Building and was the seventh tallest structure in Manhattan. RXR renovated the historic building for modern office uses. The real estate firm upgraded the elevators, sprinkler systems, HVAC systems, bathrooms, hallways and lobby adding art by Frank Stella.
Real Capital Analytics also recorded that in December 2015, RXR sold a 49% interest in the property to China Orient Asset Management for $440 million.
CBRE's Sinclair Li, Dan Wilpon and Evan Fiddle represented Knotel in the recent leasing transaction. Hal Stein, David Malawer, Ben Shapiro and Todd Stracci of Newmark Knight Frank represented building ownership.
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.
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.
