NEW YORK CITY-Financial services giant Salomon Smith Barney is looking for a tenant to sublet the 10 full floors it occupies at 125 Broad St. CB Richard Ellis will handle the transaction.
The firm currently leases floors two through 11 at the 1.2 million-sf building between Water and South Streets. CB Richard Ellis senior vice president John Nugent, vice president Lisa Cear and project manager Chris Adamo will represent the Citigroup Inc subsidiary. The lease “would go out to January 2010,” Nugent tells GlobeSt.com. Asking rent for the space was not disclosed.
According to Nugent, Salomon Smith Barney’s newly renovated space in the 40-story tower is already getting a positive response. “We’ve seen interest on the entire block, from financial services companies and insurance firms,” he says. “It’s a 16-month-old installation with raised floors throughout. The space is in move-in condition. Salomon Smith Barney has made extensive improvements.”
Salomon Smith Barney leased the Broad Street space in 1999 in one of the largest Downtown Manhattan leasing transactions of that year. The 10 contiguous floors consolidated offices previously housed in various locations throughout the city.
Citigroup, which had offices at 7 World Trade Center, announced yesterday that it will cut 7,800 jobs from its roster. Half of those cuts will reportedly be made from Banamex, the Mexican bank chain Citigroup acquired six months ago for $12.5 billion. Citigroup officials were unavailable for comment yesterday on reports that the firm plans to relocate a substantial chunk of its New York City workforce to an undisclosed 200,000-sf space in Stamford, CT.
Upon its completion in 1969, 125 Broad St., known as the 1 NY Plaza building, was the southernmost Manhattan skyscraper.