Bank Of New York Subleases Office Space At 285 Fulton Street From Port Authority Of New York & New Jersey

The property asset involved in this transaction is an office space located at 285 Fulton Street in the Financial District. The total square footage of the lease is 192,000 square feet, which caters to the needs of the tenant during their temporary relocation. The landlord in this transaction is the Port Authority of New York & New Jersey, with Douglas Durst from the Durst Organization also noted as a key figure in the deal.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 285 Fulton Street
• Market: Financial District
• Landlord: Port Authority Of New York & New Jersey
• Landlord's Representative: Newmark
• Tenant: Bank of New York
• Tenant's Representative: JLL
• Lease Type: Sublease

This transaction involves significant representation with Newmark acting on behalf of the landlord and JLL representing the tenant, highlighting the collaborative efforts in securing the sublease. Notably, the Bank of New York has subleased four floors from Condé Nast at One World Trade Center as a temporary measure while they renovate their headquarters at 240 Greenwich Street.