RFR Realty LLC Announces 29,386-SF Lease at 17 State Street
Nelson Levine De Luca & Hamilton Law Firm Inks Long-Term Multi-Floor Lease at Premier Financial District Office Property
NEW YORK, July 18, 2013 /PRNewswire/ -- RFR Realty LLC announced a 29,386-square-foot lease with Nelson Levine De Luca & Hamilton at 17 State Street, the iconic 42-story office tower located across the street from Battery Park. The architecturally-distinct skyscraper, notable within the Lower Manhattan skyline for its curved blue glass facade, is located in the heart of Downtown's Financial District. Nelson Levine, which inked a long-term lease for the entire 29th and 30th floors, is relocating from One Battery Park Plaza. This major new lease signing follows more than 90,000 square feet of leasing activity at 17 State Street over the past 12 months. Asking rents at the signature property are close to $60 per square foot.
"17 State Street is one of the premier office addresses in the Financial District," said Aby Rosen, Co-Founder and Principal of RFR Holding LLC. "We are thrilled to welcome Nelson Levine De Luca & Hamilton, which will join other top names in the financial services, legal, media and technology arenas at this stellar property."
Designed by Emery Roth & Sons in 1988, 17 State Street is known for its distinct curved glass facade and signature 15,000-square-foot boutique floors, and is widely considered one of Downtown's premier trophy towers. The property boasts exceptional, Class-A office space with unparalleled views of New York Harbor, the Statue of Liberty, Ellis Island and Battery Park. Since acquiring the property in 1999, RFR has executed a capital improvement program consisting of upgrades to the corridors, lobby and common areas, as well as a renovated plaza with contemporary landscaping, seating and lighting. RFR has also installed two striking Keith Haring sculptures and one dramatic modern art piece by Carsten Holler. The firm's high-end pre-built program has also attracted tenants to the property.
Situated at the corner of State and Pearl streets across from Battery Park, 17 State Street offers outstanding access to multiple modes of transportation. The property is close to multiple subway lines, ferries to Staten Island and New Jersey, the New York Water Taxi and the Downtown Heliport.
RFR was represented in the transaction by Steve P. Morrows, AJ Camhi and Ryan Silverman. Mohr Partners Inc.'s Lewis J. Cowan acted on behalf of the tenant in the lease negotiations.
RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990's, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR's portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.
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SOURCE RFR Realty LLC