GFI Group Expands Manhattan Footprint With 17-Year Lease Renewal At 55 Water Street

The asset involved in the transaction is an office space located at 55 Water Street in the Financial District. The lease involves a total square footage of 128,749, with an asking rent of $59 per square foot. The lease term consists of a 17-year renewal agreement.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $59/ft
• Address: 55 Water Street
• Market: Financial District
• Landlord: Retirement Systems of Alabama
• Tenant: GFI Group
• Landlord's Representative: Bradley Gerla, Evan Haskell, William Hooks, Howard Fiddle & William Hooks - CBRE
• Tenant's Representative: Jared Horowitz & Hal D. Stein - Newmark
• Square Footage: 128,749
• Lease Term: 17-year renewal

GFI Group is expanding its presence in Manhattan by consolidating its office space from 199 Water Street to the new location at 55 Water Street, where they will occupy the entirety of both the 10th and 11th floors, effectively doubling their footprint in the area.