Subtenant SecondMarket was represented by Jim Wenk, senior vice president, with Jones Lang LaSalle's New York office. Sublandlord Broadridge Financial Solutions was represented by Stephen Chasanoff with GVA Williams.
Wenk tells GlobeSt.com that the tenant is relocating to accommodate its "rapid growth." The firm, which has nearly 50 employees, will quadruple its space in the new headquarter move. The tenant is relocating to the property from its existing premises at 17 Battery Place and will occupy a portion of the 12th floor of the building.
Wenk notes that the building is currently 96% leased, but about 85% occupied. Asking rent was $50 per sf on a direct basis, but Wenk could not provide the aggregate lease value or taking rent at this time. "The sublease at 26 Broadway was an ideal solution to allow for growth while not locking the firm into a long-term lease."
The 26 Broadway building, once headquarters for Standard Oil Co. and John D. Rockefeller, is owned by Broadway 26 Waterview LLC, and is located between Beaver Street and Exchange Place. Neighboring tenants at the building include Bank of America Securities, Gleason & Mathews, Kenny & Stearns, Schlam, Stone & Dolan, Donohue & Donohue, Ferrex International Inc., Janney Montgomery Scott LLC, NYS Court of Claims and the Modern Language Association.
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