{"id":1004779856,"date":"2025-12-02T11:42:30","date_gmt":"2025-12-02T19:42:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004779856"},"modified":"2025-12-02T11:42:33","modified_gmt":"2025-12-02T19:42:33","slug":"un-agency-to-downsize-in-midtown-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/un-agency-to-downsize-in-midtown-manhattan\/","title":{"rendered":"UN Agency to Downsize in Midtown Manhattan"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2086dd15ecc&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004358287\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/fisher-brothers-signs-new-tenant-at-midtown-manhattan-tower\/605-third-ave-credit-william-taufic\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg\" data-orig-size=\"960,1440\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"605 Third Avenue. Image courtesy of William Taufic\" data-image-description=\"&lt;p&gt;605 Third Avenue. Image courtesy of William Taufic&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;605 Third Avenue. Image courtesy of William Taufic&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg?w=683\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"1024\" width=\"683\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg?w=683\" alt=\"Fisher Brothers' 605 Third Ave.\" class=\"wp-image-1004358287\" style=\"width:345px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg 960w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg?resize=200,300 200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg?resize=768,1152 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/605-Third-Ave-Credit-William-Taufic.jpg?resize=683,1024 683w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The U.N.&#8217;s Population Fund will be downsizing from Fisher Brothers&#8217; 605 Third Ave., where it occupies 130,000 square feet. <em>Image by William Taufic, courtesy of Fisher Brothers<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The U.N. Population Fund, the reproductive health arm of the United Nations, will be vacating 130,000 square feet at 605 Third Ave. by year\u2019s end and moving into about half as much space a short distance away, at 730 Third Ave., <a href=\"https:\/\/www.crainsnewyork.com\/real-estate\/un-population-fund-downsizes-midtown-office-amid-broad-reduction-new-york-footprint\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><em>Crain\u2019s New York Business<\/em> reported<\/a> on November 26. An agency spokesperson confirmed to <em>Commercial Property Executive<\/em> all of the information in that news story.<\/p>\n\n\n\n<p>The spokesperson stated that flexible work policies have led to fewer UNFPA personnel coming into the office, in addition to which some were relocated to Nairobi, Kenya.<\/p>\n\n\n\n<p>605 Third Ave. is owned by Fisher Brothers, according to information provided by Yardi Matrix. The U.N. fund\u2019s relocation will cut the 1 million-square-foot building\u2019s occupancy to 83 percent, according to a Fitch Ratings report cited by Crain\u2019s. The agency\u2019s new home at 730 Third Ave. reportedly is owned by TIAA.<\/p>\n\n\n\n<p>The U.N. Population Fund was founded in 1967 as the United Nations Trust Fund for Population Activities, or UNFPA, and kept that acronym when the agency\u2019s name was later changed to United Nations Population Fund.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/manhattans-office-sector-defies-national-slowdown\/\">Manhattan\u2019s Office Sector Defies National Slowdown<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The UNFPA\u2019s downsizing is part of a larger trend toward a smaller U.N. office footprint in Manhattan.<\/p>\n\n\n\n<p>The global organization reportedly occupies roughly 1.7 million square feet in the borough for about 8,000 employees, yet it now leases only half as much office space in New York City as it did a decade ago.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-less-quantity-better-quality\">Less quantity, better quality<\/h2>\n\n\n\n<p>In February, the United Nations announced plans to <a href=\"https:\/\/www.commercialsearch.com\/news\/united-nations-buildings-to-undergo-500m-makeover\/\">redevelop One and Two United Nations Plaza<\/a> in Manhattan. About 900,000 square feet will be involved in the $500 million, top-to-bottom renovations, which will be overseen by architectural firm Spacesmith. Cushman &amp; Wakefield is the properties\u2019 asset manager and will handle construction management.<\/p>\n\n\n\n<p>Key elements of the redevelopment will be improved energy efficiency per New York State\u2019s BuildSmart 2025 initiative, fire safety system upgrades and updates to accommodate disability codes.<\/p>\n\n\n\n<p>The United Nations Development Corp., a public benefit corporation founded in 1968, owns the buildings and is funding the redevelopment through as much as $380 million in bonds. Goldman Sachs and Siebert Williams Shank will be the underwriters for that financing.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The move is part of an apparent trend for the organization to reduce yet upgrade, its office spaces. <\/p>\n","protected":false},"author":882,"featured_media":1004280548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[33371,36095,33460],"class_list":["post-1004779856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-fisher-brothers","tag-fitch-ratings","tag-tiaa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UN Agency to Downsize in Midtown Manhattan - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The U.N. 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