The Commercial Observer has learned that Concepts of Independence inked a 14,567-square-foot relocation deal at 120 Wall Street, cementing the Silverstein Properties-owned building’s reputation as a base for nonprofits.
The tenant will move from the 10th floor to part of the ninth in the 15-year transaction. Marc R. Shapses, Nancy Weinstein and Joseph Messina of Studley represented Concepts of Independence, a 40-year-old organization that assists disabled individuals. Roger Silverstein represented the landlord in-house. Asking rent was $38 a foot.
Nonprofit and public sector tenants took a total of 2.6 million square feet in 2011, approximately the same amount it leased a year earlier, but committed to much larger leases than in the previous year, according to a new report released yesterday by Cassidy Turley.
The DeSola Group, a marketing and public relations firm, has sublet 6,300 square feet at 120 Wall Street from the American Vacuum Society in a six-and-a-half-year lease, Robert Wizenberg, a broker at CB Richard Ellis who represented DeSola, told The Commercial Observer last week. The firm will move from 1 Penn Plaza into the entire 32nd floor of the skyscraper, which has long been a hub for nonprofit organizations.
The year legendary attorney Peter James Johnson first opened his law office at 120 Wall Street, Hugh Hefner published the first issue of Playboy, with Marilyn Monroe in the centerfold; the government executed Ethel and Julius Rosenberg for espionage; and Ian Fleming’s first James Bond novel, Casino Royale, was released.
It was 1953.
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