Old Mission Expands Lease at 120 Broadway
Starting in April 2021, the multi-asset market-making firm will occupy nearly four times its previous footprint within the building.
NEW YORK CITY – The global, multi-asset market-making firm, Old Mission has renewed and expanded its lease in downtown Manhattan at 120 Broadway.
A tenant of the property since 2013, Old Mission will relocate its offices, from the 9th floor of 120 Broadway, to occupy a total of 11,173 square feet on the building’s 11th floor. The company will move into the newly-leased space, totaling nearly four-times its previous square footage, in April 2021.
Real estate development and management company, Silverstein Properties is working with Old Mission and Schrimmer Design Group on a specialized buildout within the space. Silverstein Properties will manage and construct Old Mission’s trading installations.
“Silverstein Properties is delighted to work with Old Mission to support the company’s continued strong growth and expansion of their footprint at 120 Broadway,” says Harlan Strader III, leasing associate at Silverstein Properties. “120 Broadway’s direct proximity to The Fulton Center and the Oculus, open-space amenities and personally designed office space will grant Old Mission the opportunity to grow safely and effectively in a class A building.”
Old Mission has steadily grown since its inception in 2008; providing trillions of dollars in on-screen liquidity across nearly every exchange-listed asset class, globally. The company utilizes advanced technology and quantitative techniques to build its reputation for trading hard-to-price ETFs. The company launched a new institutional services business earlier this year.
Old Mission additionally has offices in Chicago and London.
“When Old Mission originally thought about relocation alternatives, nothing was comparable to 120 Broadway’s location in downtown Manhattan and their tenant amenities,” say’s Old Mission’s Patrick Nichols. “We are excited to continue calling 120 Broadway home for the next ten years.”
120 Broadway features a Beaux Arts-inspired façade, vaulted ceilings, gold leaf accents, marble floors and hand-carved architectural detailing throughout. The property underwent a $50 million renovation recently, in order to provide new tenant amenities, such as fitness classes, upgraded interior and exterior features and rooftop amenity space.
The property’s other current tenants include Mediaocean, Beyer Blinder Belle, Macmillan Publishers, Handel Architects and New York Life.
Silverstein Properties’ leasing associate Harlan Strader led negotiations on behalf of the landlord.
Benchmark Properties’ Michael Beyda and Old Mission partner and head of the New York City office, Patrick Nichols represented Old Mission in the transaction.