Cleary Gottlieb Steen & Hamilton has signed to take 475,000 square feet of office space at 1 Liberty Plaza in the Financial District. This marks the largest deal seen in Manhattan's office sector during April, according to a new report from Colliers.
The building continues to serve as the legal firm's headquarters, where it has roughly 600 lawyers, according to the company.
Brookfield Properties' 54-story asset spans 2.3 million square feet, with base floor plates ranging up to 45,000 square feet and tower floor plates going up to 47,000 square feet. The site, which features three entrances at Liberty Street, Broadway and Cortlandt Street, is located steps away from Zuccotti Park. Also, the building provides underground access to Brookfield Place, Oculus World Trade Center and the Fulton Street Transit Center.
Overall, April marked a cool-down for office in Manhattan, with leasing month-over-month plunging by 38.3 percent to 3.61 million square feet after March saw the highest demand in almost eight years, according to the Colliers report.
However, Downtown showed resilience during April, with the 851,650 square feet of signings in the submarket doubling from the previous month and "practically" tripling year-over-year, according to the brokerage. Also, that amount was 91.3 higher than the typical 10-year monthly average. Safe to say, Cleary Gottlieb Steen & Hamilton's deal played a big part in boosting the area's numbers in April.
Outside of Cleary Gottlieb Steen & Hamilton, Tennr and Jump Trading had the two next largest leases. The firms signed for 124,733 and 99,305 square feet, respectively, in Midtown South. The others in the top five also took place in the Midtown South, with Sierra and Adyen signing for 94,145 and 87,500 square feet, respectively, at their locations.
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