|Address:||220 Vesey Street||Class:||A|
|Cross Streets:||Liberty Street & Vesey Street||Size:||8,500,000 total SF|
|Year built:||1985-87||Architect:||Cesar Pelli & Associates|
The five-building Brookfield Place office complex in Downtown Manhattan was the largest urban complex developed in Manhattan since the Rockefeller Center. It was developed by Toronto-based Olympia and York and designed by Cesar Pelli in the late 1980s and underwent extensive renovations in 2014, after being acquired by Canadian company Brookfield Office Properties. The complex, still commonly referred to as the World Financial Center, is located right across West Street from the World Trade Center in the Battery Park City neighborhood, and features more than 8.5 million square feet of office and retail space.
More Than 8.5 MSF of Class A Office Space Available
The land upon which Brookfield Place is sited, including the adjacent Battery Park City, was created from landfill as a result of the construction of the World Trade Center. The massive complex consists of five office buildings overlooking the Hudson River, namely 200 Liberty Street, 225 Liberty Street, 200 Vesey Street, 250 Vesey Street, and 300 Vesey Street. The 16-story 300 Veset, also known as One North End Avenue or the New York Mercantile Exchange Building, is the latest addition to the complex, and it was built in 1997. The office complex is so large, it has its own zip code, namely 10281.
Brookfield Office Properties acquired the complex, formerly known as the World Financial Center, in 2002. It was given its new name in 2014, following the completion of extensive renovations, after the buildings and the onsite garden were damaged during the 9/11 attacks.
The five buildings that make up the Brookfield Place complex range from 16 to 51 stories and together encompass more than 8.5 million square feet of office and retail space. The best-known amenity at Brookfield Place is the Winter Garden Atrium, a 45,000-square-foot domed glass pavilion that houses various plants, trees, flowers, cafes, and shopping areas. The garden was rebuilt in 2002 after the 9/11 attacks, and nowadays serves as the backdrop for concerts and other performances.
The best-known feature of the World Financial Center is the winter garden, a glass cupola supported by a steel skeleton. It is planted with palm trees and contains cafes, shops and a succession of marble steps, which serve as the backdrop for concerts and other performances.
Getting to and from Brookfield Place
The Transportation Hub connecting the PATH subway system to the New York City Subway system facilitates transit to the World Trade Center submarket. The hub’s west concourse connects west to the Battery Park City Ferry Terminal, while the A, C, E, 1, 2, and 3 train lines are easily accessible from Brookfield Place. The complex is also connected to the World Trade Center via a new east-west passageway.
Who is renting office space at Brookfield Place?
The complex owned by Canada-based Brookfield Properties is home to a plethora of high-profile tenants in the financial, communications and media industries, as well as to numerous high-end fashion retailers.
Current office tenants include the Associated Press, PR Newswire Association, Santander Bank, BNY Mellon, Time Inc., Bank of America, Merrill Lynch, Hudson’s Bay Company, Commerzbank, and the Pacific American Corporation, among many others. Retail tenants at Brookfield Place include Hermes, Tory Burch, Burberry, Salvatore Ferragamo, Club Monaco, J. Crew, Omega, and Saks Fifth Avenue.
How much is the rent price for office space at Brookfield Place?
Office asking rents at Brooklyn Place generally hover around $60 per square foot, slightly below the Downtown Manhattan average of $75 per square foot. The excellent location of the complex, within walking distance to the World Trade Center, coupled with the plethora of amenities and retail options available on site make Brookfield Place highly desirable for office-using tenants looking for quality Class A space.