Marketplace 10/24
October 23, 2013

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Marking one of the largest lease renewals in lower Manhattan this year, Hughes Hubbard & Reed has decided to stay at the Rudin Family's One Battery Park Plaza...

"The area is hot," [Candace] Beinecke said. The firm explored all options but was "delighted" to renew downtown. "The views of the New York Harbor are unmatched," she added.

The 36-story, 875,000-square-foot Battery Park building, also known as 21 State St. covers a full block surrounded by State, Pearl, Whitehall and Bridge streets.

The average rental rate for a class-A building in the neighborhood of One Battery Park Plaza is about $54 per square foot, according to Studley's October report.

The location is an "excellent fit" in proximity to transit routes for staff and clients, Beinecke said, and the building has state-of-the-art technology.

Marketplace 10/24

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