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NEW YORK CITY-Architectural firm Skidmore, Owings & Merrill, whose local credits include One Chase Manhattan Plaza and the Time Warner Center, has renewed its New York office space. The 10-year lease, announced Tuesday, is for 65,397 square feet on the 24th and 25th floors of 14 Wall St.

Taking rents were not disclosed, but published reports list upper-floor asking rents in the low to mid $50s per square foot. SOM has been a tenant at the 37-story 14 Wall since 1998.

Since the April 2007 purchase of 14 Wall in a $325-million joint venture with the Carlyle Group, Capstone Equities has put $50 million into capital improvements at the property, achieving more than 90% occupancy in that time. Capstone principal Daniel Ghadamian says in a release that the improvements at 14 Wall, including energy-efficient building systems, “undoubtedly have created an attractive incentive for tenants when faced with the decision to renew their leases.” He adds that a combination of his firm’s commitment to hands-on ownership and a “top-tier” tenant in SOM “enabled this mutually beneficial transaction to close in a very difficult environment.”

SOM was represented in the release by Michael Colacino and David Goldstein, both of Studley. The building’s ownership was represented by a CB Richard Ellis team including Howard Fiddle, Brad Gerla, Jonathan Cope, Evan Haskell and Michael Higgins.

In addition to SOM, major tenants at 14 Wall include Arthur J. Gallagher & Co. of New York; Bank of America; H.G. Wellington & Co.; Newman, Fitch, Altheim, Myers, P.C.; the New York Stock Exchange; the Posse Foundation; TheStreet.com; Time Warner Telecom; William H. Sadler; NYU Medical Center and FJ Sciame Construction Co. Additionally, True Religion Brand Jeans recently leased 700 square feet of ground-floor retail space. Capstone’s most recent acquisition Downtown was its $60-million purchase of the 250,000-square-foot 156 William St., a year ago.

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