Downtown’s Lagging Office Market Recovery Gets a Boost with 77K-sf Lease
Catholic Charities of New York has expanded its footprint in 80 Maiden Lane. The not-for-profit currently occupies 27,000 square feet leased in 2013 on portions of the 13th and 14th floors within the 25-story building located in Lower Manhattan’s Financial District. The 30-year deal for 77,000 square feet is being structured as a leasehold condominium, enabling Catholic Charities to take advantage of an exemption from real estate taxes. The new space spreads across entire floors 22 through 24 plus a portion of the 14th floor. The deal gives a boost to the Downtown office market where the pace of recovery since the pandemic has lagged behind Midtown and Midtown South, in part due to its largely older office buildings.