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Alliance for Downtown New York leases 14,420 sf at 42 Broadway
The Downtown Alliance plans to move its operations division to the 22-story Financial District building, where asking rents averaged $61.9 per square foot in July.
Alliance for Downtown New York, operating through its Downtown Alliance business improvement district, has leased 14,420 square feet at 42 Broadway in Manhattan’s Financial District, according to a CBRE office market report cited by Commercial Observer.
The nonprofit plans to relocate its operations division to the 22-story office building. Its corporate headquarters remain about three blocks north at Silverstein Properties’ 120 Broadway.
JLL represented the tenant in the negotiations, while Cammeby’s International Group confirmed the transaction to Commercial Observer, noting the space is still under construction. Lease terms were not disclosed.
The Commercial Observer article also said Lower Manhattan office asking rents averaged $61.91 per square foot in July, per the CBRE report. The tower is near the intersection of Broadway and Morris Street, and other tenants listed include Office of the Appellate Defender, TKO Suites, Prestige Health and Wellness, DDS Group, and Gregorys Coffee.
Latest closeCoffee $324.25 ▼0.8%