In an important transaction for the Lower Manhattan office market, structural engineering firm Weidlinger Associates Inc. has signed a long-term, 61,082-square-foot lease at the Trump Organization’s 40 Wall Street, international commercial real estate services firm Studley announced today.
Weidlinger is relocating and expanding from just under 50,000 square feet at 375 Hudson Street, where its lease was set to expire in the first quarter of 2013. Occupancy is expected in the second quarter of 2012 at 40 Wall Street, a landmark, 927-foot-tall tower, which was once the world’s tallest building. The firm will take the entire 18th and 19th floors.
Studley Corporate Managing Director Jason Schwartzenberg, Senior Managing Director Joe Messina and Managing Director Jack Feeney represented Weidlinger in the transaction. Andrew Peretz and Jared Horowitz of Cushman & Wakefield represented the Trump Organization.
“With the lease at 375 Hudson Street expiring in 2013, our client wanted to secure another long-term lease sooner rather than later, due to market conditions,” said Mr. Schwartzenberg. “Studley began evaluating alternatives in late 2009, and we were ultimately very pleased to facilitate Weidlinger’s relocation to this iconic downtown location.”
Constructed in 1930 as the Manhattan Company Building, 40 Wall Street is among the most recognizable skyscrapers in the downtown New York City skyline. It was purchased by the Trump Organization in 1995, which renovated and restored the property and renamed it the Trump Building. 40 Wall Street was designated a New York City landmark in 1998.