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GTN Gains Foothold in Manhattan Office Market

| Commercial Real Estate News, Deals, Featured, Leasing, Office| Views: 0

Dubai-based GTN closed on a five-year lease deal for its first New York City office at the RXR-owned 32 Old Slip building. The fintech company will occupy roughly 3,300 square feet of office space on the 32nd floor of the 36-story property that’s located within the city’s Financial District along the Water Street corridor. Asking rent was $66 per square foot.

A CBRE team comprised of Ryan Alexander, Zac Price, Alex Benisatto and Justin Greenstone — along with RXR’s own Dan Birney and Alexandra Budd — led the negotiations on behalf of the landlord. The tenant was represented by Andrew Coe and Margaux Kelleher of JLL.

“Wall Street remains the heartbeat of the financial world, and our choice reflects our dedication to fintech innovation,” GTN Americas CEO, Eric Krueger, said. “Proximity to vendors, clients and top-tier talent positions us for success in shaping the future of financial technology. Our column-free office space not only fosters a collaborative work environment, but also provides panoramic views of the East River, enhancing the overall experience for both employees and visitors.”

“As a fintech pioneer with proven success making investment and trading accessible for all, we are thrilled GTN will bring their expertise to 32 Old Slip,” said William Elder, RXR’s executive vice president and managing director of New York City leasing.

Completed in 1987 by Howard Ronson (one of the prolific developers of office space in Manhattan during the 1980s), the 1.2-million-square-foot building was acquired by RXR in 2015. The company paid $675 million to Beacon Capital Partners for it and then invested in renovating the asset: Currently, 32 Old Slip boasts a 104-spot parking garage, high-speed elevators, and flexible office layouts with breathtaking views of Brooklyn Bridge and the East River.

The building’s tenant roster includes the U.S. Census Bureau, personal injury firm Harris Law, insurance platform Policygenius and visual effects producer FuseFX. Additionally, New York City Fire Department Engine Company 4 and Ladder Company 15 are stationed on the ground floor.

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