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.

Source:    https://www.crainsnewyork.com/real-estate/downtown-nyc-office-market-gets-boost-catholic-charities-lease