GFI Group is more than doubling its footprint at its lower Manhattan office that overlooks the East River.
The financial service firm has expanded by 64,993 square feet to give it a total of 128,749 square feet to work with at 55 Water Street, as reported by the New York Post. The news outlet further noted that this marks a consolation for GFI, which previously operated 70,000 square feet at nearby office tower 199 Water Street.
GFI, which has operated 55 Water since 2007, is paying $59 per square foot for the rent. On the new deal, Newmark represented GFI, while CBRE acted on behalf of landlord New Water Street Corp.
Availability at the four-million-square-foot building is now 436,000 square feet. Some amenities at 55 Water include a cafe, shoe shining, bike parking, a parking garage and a bar and grill. Plus, the building is surrounded by two parks.
Overall, Manhattan's office sector continues to thrive. Year-to-date leasing through October in the market surged by 38 percent from the same period last year to 26.03 million square feet, according to a November report from CBRE. Additionally, Transwestern separately said that sublease space fell below pre-pandemic levels to 11.8 million square feet, as of November 1.
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