Division of French Embassy Relocates to Wall Street

NEW YORK CITY-Wall Street is the new home of the French Embassy Treasury Representative, which has been occupying a portion of the 53rd floor of 1 World Trade Center. This division of the French Embassy, which follows the daily financial markets and tracks French investments in the US, has signed a 10-year lease valued at $1.7 million for 3,950 sf at 48 Wall St.

Insignia/ESG’s Snezana Anderson and Bernhard Weinstabel in the firm’s Downtown office represented the tenant in the lease negotiations. Cushman & Wakefield’s Jonathan Dean negotiated on behalf of owner Swig Burris Equities.

“48 Wall Street is a Class-A boutique property that allows this division of the French Embassy its autonomy,” says Anderson. Adds Weinstabel, “In this instance, downsizing to a smaller building was appropriate and as part of the deal, the owner built out the space which, of course, provided a further incentive to move.”