Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
NEW YORK—Catholic Charities of New York, one of the largest charitable organizations in the New York metropolitan area that coordinates and advocates for human service and programs dedicated to alleviating poverty and serving people of all religions, has signed a 77,130-square-foot office lease at 80 Maiden Lane in lower Manhattan.
The nonprofit organization will expand its existing operations in the property, consolidate various Midtown locations to the entire 22nd, 23rd, and 24th floors, and part of the 14th floor of 80 Maiden Lane, and extend its term in the building for 30 years. The deal was announced by commercial real estate brokerage firm CBRE.
The CBRE team of Paul Amrich, Neil King, Jonathan Cope, Gerry Miovski and Masha Dudelzak spearheaded the leasing campaign at the property and represented the ownership, Maiden Lane Asset Management, in the negotiations. Catholic Charities was represented in the transaction by a JLL team that included Vice Chairman Matt Astrachan, Executive Managing Director Greg Wang and Associate Vice Presidents Kristen Morgan and Hannah Bernstein.
Ownership of the property is converting the building to a condominium to support this not-for-profit tenancy and is engaged in substantive discussions with other core not-for-profit social service organizations to offer them secure, long-term leases in the building.
“We are thrilled to have such a well-respected charitable organization as a tenant at 80 Maiden Lane,” said Paul Wasserman, of AM Property Holding II Corp., who acted as the lead negotiator for ownership. “We are open for business with both commercial entities as well as non-profits, with both standard leases and long-term leases, that can provide an economically stable base protected from the vagaries of the leasing market in one of most rent-competitive properties in Downtown Manhattan.”
Located in lower Manhattan, 80 Maiden Lane is a 25-story office building that boasts open floorplates, large windows with unobstructed views and 12-foot ceiling heights. The property is also steps from every major subway line, as well as PATH and ferry service, offering value and variety in its abundant commuting options. This lease, by no coincidence, was signed on September 11, 2024, and reflects the intent of both parties to demonstrate the resilience of the people of the City of New York, CBRE officials stated in the press announcement.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
City and State honored 100 “New Yorkers who are on the front lines, creating jobs and spurring economic growth on the local, state and national levels.”
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