GFP Real Estate announced that The Legal Aid Society has signed a 30-year lease for 198,900 s/f of commercial office condominium space at 40 Worth Street.
The Legal Aid Society, which currently has offices at 40 Worth Street, 199 Water Street and 80 Pine Street will consolidate its offices to the TriBeCa office property.
“It is an honor to have The Legal Aid Society as a major tenant as we share their goal of insuring that everyone, rich or poor, is entitled to legal representation under the constitution,” said Jeffrey Gural, Chairman of GFP Real Estate, LLC.
“We are thrilled that The Legal Aid Society is consolidating its Lower Manhattan offices with us which will create a single location and thereby, make it easier for its staff and clients to execute their mission,” said Brian Steinwurtzel, Co-CEO and Principal of GFP Real Estate, LLC.
“We are very happy to be looking to the future and taking on the important step of bringing our lower Manhattan offices and units together under one roof,” said Archana Jayaram, Chief Operating Officer of The Legal Aid Society.
The space will undergo a complete renovation and build-out in two phases—the expansion space will be built out first and is scheduled for completion in March 2022. Following the completion of construction, Legal Aid Society will renovate its existing offices, with work scheduled for completion in Q4 of 2022.
When complete, Legal Aid Society will occupy a portion of the ground floor and mezzanine, the entire 2nd, 5th and 12th floors and a portion of the 3rd floor; architecture, design, and workplace strategy will be led by Gensler.
Craig Reicher, Christopher Mansfield, Greg Maurer-Hollaender and Peter Gamber of CBRE represented the tenant, The Legal Aid Society in the transaction; Brian Steinwurtzel and Roy Lapidus of GFP Real Estate represented the commercial condominium owner/landlord, 40 Worth Street Associates, LLC; the space was previously occupied by Charity Water and Public Health Solutions, which were relocated within the property.
40 Worth Street is a neo-classical building, also known as the Merchants Square Building, that was built in 1929 by the architectural firm of Jardine, Hill & Murdock.
Situated in Tribeca, the building totals nearly 800,000 s/f, and occupies a full block from Worth Street to Thomas Street between West Broadway & Church Street. Building tenants include an array of major non-profits including the Acumen Fund, the Legal Aid Society and the Innocence Project. 40 Worth Street is also the East Coast Headquarters for the iconic fashion brand, The Gap.