NYC brokerage closes 10-year lease for 11,047-square-foot office space at55 Broad Street
The New York office for Avison Young has arranged a new 11,047-square-foot lease for Solstice Residential Group at 55 Broad Street, a 30-story, 425,000-square-foot office building located in Manhattan’s Financial District.
Avison Young Executive Director Jamie Covello and Director Albert Wu represented the tenant and Kevin Daly of Rudin Management represented the property owner.Solstice, a residential real estate management firm,signed the new 10-year lease for the full26th floor.
The new transaction follows the completion of Rudin’s multi-million-dollar lobby renovation earlier this year. Designed by Fogarty Finger, 55 Broad Street’s new lobby features white marble interiors, textured terrazzo floors, ornamental marble and a highly reflective ceiling that brings more light into the space. The reimagined lobby also incorporates new state-of-the-art turnstiles, reception desk and seating, as well as an increased presence from street level. A full replacement and modernization of the tower’s elevators is set to commence later this year.
“We are pleased to have solidified a long-term lease that satisfies the terms and demands of this well-respected and growing real estate management firm,” Covello said. “Originally located on Park Avenue South, Solstice will be relocating to a beautiful Class A building owned by one of the most highly regarded Landlords in New York City. The premises offer a near perfect layout, gorgeous river views, and beneficial commuting routes.”
“We are excited to welcome Solstice Residential Group to 55 Broad Street,” said Michael Rudin, Senior Vice President at Rudin Management Company. “Solstice joins our other prestigious tenants at 55 Broad Street, a building with excellent visibility, a state-of-the-art lobby, and convenient proximity to Wall Street, the World Trade Center Transportation Hub, and the New York Harbor.”
Solstice Residential Group specializes in the management of cooperative, condominium and luxury rental residences in New York and South Florida.
Developed by the Rudin Family in the early 1960s and designed by Emery Roth & Sons, 55 Broad Street has long been regarded as one of the most significant smart buildings in the history of Lower Manhattan. The building was originally designed as the headquarters for Goldman Sachs.
In the early 1990s, the Rudins re-engineered and reinvented 55 Broad Street, which earned the distinction as New York City’s first fully wired office building. Current tenants benefit from a state-of-the-art workplace that includes fixed wireless accessibility, single and multi-mode fiber optics, high speed category 5 copper wire and a wide range of video conferencing and internet access capabilities. The tower is designated Wired Certified Platinum for best-in-class connectivity. Other notable tenants include Crown Castle Fiber, Dailypay, PJ Mechanical, City Year and Statista.
Solstice Residential Group, LLC specializes in the management of cooperative, condominium and luxury rental residences in New York and South Florida. The company pridesitself on providing its clients with the depth and resources of larger firms while maintaining the personalized interaction and attention to detail of a smaller boutique firm.The firm and its principals are thoroughly knowledgeable in the operations and day-to-day management of New York and South Florida cooperative, condominium and luxury rental residences, including handling various complexities, such as capital improvements, maintenance of physical and mechanical plants, cost controls, staffing, finances, etc. Most importantly, Solstice pledges responsive and polite communications with its Boards of directors and managers, residents, professionals, contractors and staff.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Rudin Management Company is a full-service real estate organization managing the interests of the Rudin Family, which owns and operates one of the largest privately held real estate portfolios in New York City. Among its real estate holdings, which includes the high-tech Dock 72 office tower at Brooklyn Navy Yard, are 16 commercial office buildings containing approximately 10.5 million square feet of space and 18 apartment buildings comprising over four million square feet of residences. For more information about Rudin Management Company, please visit the newly redesigned Rudin website at https://www.rudin.com/.
