Global commercial real estate advisory firm Newmark is pleased to announce that Susquehanna International Group, LLP (SIG), has signed a lease renewal for 52,412 square feet at 140 Broadway in the Financial District. Newmark Vice Chairman Brian Goldman and Executive Managing Director Ross Perlman represented SIG in the transaction.
SIG, a leading global quantitative trading firm founded in 1987, employs more than 2,400 people across North America, Europe, Australia and Asia. The firm has had a long-standing presence at 140 Broadway, with its offices located on the entire 47th and 48th floors. Newmark negotiated a 16-year lease renewal for SIG, which will include upgrades to their workplace/design.
“140 Broadway has served SIG’s needs for many years,” said Perlman. “However, the current space required significant upgrades to support the firm’s goals of continuing to attract outstanding talent as well as creating operational efficiencies.”
“We identified best-in-class properties that could support SIG’s footprint and its robust infrastructure needs. We ultimately concluded that 140 Broadway could still deliver on those requirements but would require attractive economics to substantially renovate,” said Goldman.
Robert Constable of Cushman & Wakefield represented ownership in the transaction. 140 Broadway is a 51-story, 1.17 million-square-foot building. Over the last ten years, the property has undergone a $20+ million capital improvement program that included a new, modernized lobby, HVAC upgrades, elevator modernization, as well as a cellular backbone for uninterrupted service throughout the building. The building is LEED Gold certified and is well known for the Red Cube, an abstract sculpture by Isamu Noguchi, that sits on the plaza in front of the building.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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