Olmstead Properties has signed 14 leases totaling approximately 24,000 square feet at 299 Broadway during the past six months, bringing the Tribeca office building to 96% leased.
Gluckman Tang Architects signed a seven-year, 3,400-square-foot lease on the building’s 17th floor, where Olmstead is constructing a custom-designed office tailored to the firm’s specific design requirements. Gluckman Tang Architects was represented by Nick Farmakis and Gianni Esposito of Savills. Ownership was represented by Jonathan Bock and Steven Marvin of Olmstead Properties.
While Gluckman Tang’s office is being custom built, the lease reflects broader demand from architecture, design, technology, financial and creative firms seeking distinctive office space in Tribeca. In response, Olmstead is launching a new office initiative featuring redesigned common corridors, elevated finishes and a collection of premium office suites.
“299 Broadway is a reflection of how the Lower Manhattan office market is evolving,” said Bock. “Five years ago, much of the demand came from legal and professional services firms. Today, architects, designers, technology companies, creative firms and boutique financial companies are driving leasing activity. They want offices that reflect their brand while offering the character and authenticity of neighborhoods like Tribeca. Our investment in premium office environments is a direct response to that shift.”
The initiative will also extend to the building’s approximately 16,000-square-foot fifth floor, which transformed into four to five premium office suites ranging from approximately 1,000 to 6,000 square feet.
