{"id":1004205014,"date":"2018-01-26T02:11:14","date_gmt":"2018-01-26T10:11:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004205014"},"modified":"2022-12-08T17:15:26","modified_gmt":"2022-12-09T01:15:26","slug":"former-home-of-american-stock-exchange-up-for-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/former-home-of-american-stock-exchange-up-for-lease\/","title":{"rendered":"Former Home of American Stock Exchange Up for Lease"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"123<\/a>

123 Greenwich St. in Manhattan<\/p><\/div>\n

A joint venture between GHC Development and Clarion Partners is opening up space at 123 Greenwich St. in Manhattan\u2014the original home of the American Stock Exchange\u2014the first time that space has been made available to lease in the building\u2019s nearly century-long history.<\/p>\n

The mixed-use space is being made available for retailers and other commercial users, including entertainment options.<\/p>\n

\u201cThere\u2019s a transformative renaissance in Lower Manhattan.<\/em> It\u2019s not just about quantity but it\u2019s the flavor and the quality of the tenants in the area that makes it attractive,\u201d <\/em>Allan Fried, who heads up GHC Development, told Commercial Property Executive. \u201cYou have Conde Nash utilizing 1.3 million square feet, you have Spotify at 400,000 square feet, you have Groupon at 500,000 square feet, and all these tenants involved in fashion, media and technology.\u201d<\/em><\/p>\n

Whoever leases the space will be able to take advantage of the nearby World Trade Center complex and the city\u2019s largest transportation hubs.<\/p>\n

\u201cWhat we offer is something unique; it\u2019s two distinct floor plates of 25,000 square feet and they have 60-foot ceiling heights and they are column-free,\u201d <\/em>Fried said. \u201cFor a traditional tenant who wants a flagship or marquee location, it\u2019s something that we can offer.\u201d<\/em><\/p>\n

Historic history<\/strong><\/h2>\n

Originally built in 1921, and designed by\u00a0Starrett and Van Vleck, the building offers nearly 80,000 square feet of space spread out on three levels. The space includes two distinct 25,000-square-foot column-free floorplates, each with its own ground-floor identity and unique entrances that front both Greenwich Street and Trinity Place.<\/p>\n

Fried and investment partner Michael Steinhard acquired the vacant, 182,000-square-foot Art Deco building (along with the adjacent 22 Thames St. development site) for $17 million in 2011.\u00a0Clarion Partners acquired a majority stake in the American Stock Exchange Building in December of 2015 for $105 million.<\/p>\n

\u201cWe bought the building a few years back, and we were a little early and ahead of the game,\u201d <\/em>Fried said. \u201cI envisioned the World Trade Center would ultimately be built, but when we closed on our purchase One World Trade was still a dream and there were some doubts that it would be built. Now, there\u2019s a realization of people actually being there with over 60,000 residents there morning, noon and night, so it\u2019s not a quiet residence.\u201d<\/em><\/p>\n

Since acquiring the property, GHC Development has worked with the Landmarks Preservation Commission to transfer air rights to the development site, secure approvals for adaptive reuse, and grow the size and number of windows in the American Stock Exchange Building to make the property more appealing to possible retail tenants.<\/p>\n

The company sold off the development site in 2012, which today is being built as 125 Greenwich St.<\/p>\n

123 Greenwich St. is situated at the foot of the World Trade Center complex, between the two indoor malls located in the WTC Oculus and\u00a0Brookfield Place.<\/p>\n

\u201cOn a scale of 1-10, you are at a 10 in terms of the vibrancy you will see in this neighborhood,\u201d<\/em> Fried said. \u201cThere\u2019s excitement when you walk on the street during lunch time or dinner time. It\u2019s a desirable place to be.<\/em><\/p>\n

According to Fried, the building is a unique high-street opportunity, affording retailers or entertainment users the ability to showcase their brand utilizing a full landmark building identity.<\/p>\n

Over the last few months, before opening up the building for lease, GHC Development issued a short-term lease with LVMH to house its traveling international exhibition, \u201cVolez, Voguez, Voyagez \u2013 Louis Vuitton,\u201d which featured rooms with a two-story mast and sail, a full-size propeller plane model, a railway car and other travel-oriented sets. The exhibit hosted more than 300,000 unique visitors.<\/p>\n

The retail leasing team of\u00a0Dan Harroch,\u00a0Matthew Seigel\u00a0and\u00a0Payal Doshi\u00a0will serve as exclusive agents for the property.<\/p>\n

Clarion Partners recently sold the Stony Brook Office Park, four interconnected office buildings in Waltham<\/a>, Mass., for $80 million.<\/p>\n

Image courtesy of GHC Development\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

For the first time ever, a joint venture between GHC Development and Clarion Partners is opening up the historic building at 123 Greenwich St. in Manhattan.<\/p>\n","protected":false},"author":451,"featured_media":1004205021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,1600,21742,10,21749],"tags":[38184,32790],"class_list":["post-1004205014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-new-york","category-latest","category-northeast","category-retail","tag-art-deco","tag-clarion-partners"],"acf":[],"yoast_head":"\nFormer Home of American Stock Exchange Up for Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/former-home-of-american-stock-exchange-up-for-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Home of American Stock Exchange Up for Lease\" \/>\n<meta property=\"og:description\" content=\"For the first time ever, a joint venture between GHC Development and Clarion Partners is opening up the historic building at 123 Greenwich St. in Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/former-home-of-american-stock-exchange-up-for-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-26T10:11:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:15:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/123-Greenwich-St.-in-Manhattan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/former-home-of-american-stock-exchange-up-for-lease\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/former-home-of-american-stock-exchange-up-for-lease\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Former Home of American Stock Exchange Up for Lease\",\"datePublished\":\"2018-01-26T10:11:14+00:00\",\"dateModified\":\"2022-12-09T01:15:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/former-home-of-american-stock-exchange-up-for-lease\\\/\"},\"wordCount\":663,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/former-home-of-american-stock-exchange-up-for-lease\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/123-Greenwich-St.-in-Manhattan.jpg\",\"keywords\":[\"Art Deco\",\"Clarion Partners\"],\"articleSection\":[\"Brokerage\",\"Featured\",\"New York\",\"News\",\"Northeast\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/former-home-of-american-stock-exchange-up-for-lease\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/former-home-of-american-stock-exchange-up-for-lease\\\/\",\"name\":\"Former Home of American Stock Exchange Up for Lease - 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