Moody’s is downsizing and buying and selling one Decrease Manhattan tower for one more.
The credit score rankings big signed a 460,000-square-foot lease at Brookfield Properties’ 200 Liberty Avenue, establishing a 2027 transfer of its international headquarters, the corporate introduced. Moody’s will relocate from Silverstein Properties’ 7 World Trade Center, the place it now occupies 758,000 sq. toes.
The corporate will occupy a number of flooring of the 40-story tower, which is a part of the 9.4-million-square-foot Brookfield Place complex in Battery Park. The relocation is a part of the corporate’s broader international workplace overhaul, which additionally contains new workplaces in London, Sydney, Tokyo, Milan and Washington, D.C.
A Cushman & Wakefield crew together with Robert Lowe, John Cefaly and Paige Engledrum represented Moody’s within the deal. Brookfield was represented in-house by Mikael Nahmias, Dan Roberts and Andrew Dunn, together with JLL’s Paul Glickman, John Wheeler and Christine Colley. The asking lease and lease size weren’t disclosed.
Brookfield Place, considered one of Decrease Manhattan’s flagship office-and-retail complexes, has been a brilliant spot in a still-challenged submarket. Brookfield stated it secured greater than 2 million sq. toes of workplace leasing on the advanced in 2025, accounting for roughly 40 % of all workplace leasing exercise downtown.
Brookfield acquired the advanced from bankrupt Olympia and York in 1992 and spent $900 million to modernize it within the final decade. This yr, the true property big prolonged its floor lease for one more 50 years. The lease with the Battery Park Metropolis Authority, a state company, is now scheduled to run out in 2119.
Workplace rents at Brookfield Place vary from $53 to $65 per sq. foot, based on CoStar. Earlier this yr, Jane Avenue Capital expanded its footprint at Brookfield’s 250 Vesey Avenue, one other constructing within the advanced, to just about 1 million sq. toes. Different tenants embrace Royal Financial institution of Canada and Jones Day.
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