AMERIGROUP TAKES 165,000 SF AT 14 WALL STREET
New York, NY (July 26, 2012)  
Amerigroup, a Fortune 500 company that coordinates services for individuals in publicly funded health care programs, has signed a lease for 165,000 square feet at 14 Wall Street. Studley’s Zev Holzman and Paul Revson represented Amerigroup in the transaction along with Rich Hopen of Hopen Corporate Services.

Amerigroup will take floors 11, 12, 14, 21 and 22, consolidating its 50,000-square-foot office, located at 21 Penn Plaza, and its two Brooklyn facilities totaling 150,000 square feet, at its new downtown location which will also serve as its New York Headquarters. The move follows Amerigroup’s recent acquisition of HealthPlus and represents a 20% reduction in its office space footprint due to better efficiencies. The lease commences January 1st, 2013.

The Studley team was able to negotiate an exceptionally flexible agreement with expansion and building naming rights.

“We engaged in a lengthy process to identify a building that was geographically optimal for consolidation of the former HealthPlus and Amerigroup offices,” said Holzman. “Ultimately, 14 Wall Street, across from the stock exchange, proved to be ideal location and provided excellent growth opportunities and flexibility over the long-term.”

Alex Rovt, the building’s new owner, along with partners Daniel Ghadamian and Josh Zamir with Capstone Equities, worked with CBRE’s Howard Fiddle, Brad Gerla, Jonathan Cope and Evan Haskell on the transaction.