ABS Partners Attracts Tech and Media Firms to 44 Wall Street
Deals Exemplify Downtown Evolution with New Tenant Mix
NEW YORK, N.Y. (May 7, 2013) In a sign that things are changing for the Financial District, ABS Partners Real Estate, LLC announced today that at 44 Wall Street, it has finalized three transactions in tech-inspired prebuilt units on the seventh floor. Deals with Style House PR, Handelsblattand SmartAsset total close to 8,000 square feet. All three companies specialize in media and technology, reaffirming Downtown Manhattan’s evolution into a destination for diverse high-quality tenants seeking alternatives to more traditional properties and spaces.
ABS Partners Senior Managing Directors Keith Lipstein and Jay Kreisberg and Associate Adam Nelson represented the landlord in the recent transactions.
“The financial services industry has been contracting necessitating a tenant makeover for landlords,” said Lipstein. “More and more, Wall Street is Wall Street in name only. Historically Wall Street was a prestigious address recognized all over the world as the center of the financial universe. Now, 44 Wall Street is transforming into a prototype community where traditional financial service companies coexist with service, technology and media firms.”
The new tenants will further broaden the industries represented on the building’s tenant roster. Another creative tenant in the building is music company ATO Records, which occupies the building’s top three floors.
The new arrivals are:
- Style House PR: The boutique public relations and brand-marketing firm signed a lease for 2,916 rentable square feet. The company specializes in the promotion of luxury fashion, beauty, accessories, and lifestyle brands. The firm was represented by Matthew Hoffman of Focus Real Estate Group.
- Handelsblatt: The German equivalent to the Wall Street Journal, Handelsblatt will occupy 2,135 of rentable square feet at 44 Wall Street. Leon Manoff of Colliers International represented the tenant in securing this space.
- SmartAsset (i.e. Financial Insight Technology): Founded in 2011, and a runner-up in the New York City Economic Development Corporation’s “Take the H.E.L.M.: Hire + Expand in Lower Manhattan” competition, the firm creates powerful financial modeling technology that allows customers to compare alternatives and walk through complicated decisions, step by step. The firm signed a lease for 2,932 square feet and the deal was brokered by Theodora Livadiotis of Cassidy Turley.
These firms chose 44 Wall for the pre-built spaces that provide an industrial feel utilizing modern finishes favored by many tech and media companies. Features include polished concrete floors, open ceilings and glass partitions. 44 Wall also boasts reasonable pricing, flexible leasing agreements and amenities such as bike parking.
“Since 2001, the residential population of the Downtown Manhattan area has increased from 25,000 residents to over 60,000,” added Lipstein. “As a result, the immediate environs around 44 Wall offer an increasingly vibrant lifestyle for living and working. Dollar for dollar it is a great value.”
Adding to the building’s appeal is its strategic location. Steps away from the front door are the 2, 3, 4, 5, J and Z subway lines, PATH, and Staten Island Ferry.
The ABS Partners leasing team at 44 Wall Street has offers in on the remaining prebuilt units of 4,642 and 2,313 rentable square feet. Planning for the construction of additional similar units on other floors is underway.
About ABS Partners Real Estate
ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.