305 Broadway, Mutual Reserve Building Office Space for Lease

305 Broadway, Mutual Reserve Building Office Space for Lease
Built in 1894
133,000 SF
Design by William H. Hume
Address: 305 Broadway Class: B
Cross Streets: Broadway & Duane Street Size:  133,000 SF
Year built: 1894 Architect: William H. Hume

The office building at 305 Broadway in Lower Manhattan, also known as the Mutual Reserve Building, was completed in 1894. It was designed in a Romanesque Revival style by William H. Hume, who drew inspiration from the work of Henry Hobson Richardson. The building has been a New York City Landmark since 2011, and it used to house the headquarters of the Landmarks Preservation Commission from 1967 to 1980. 

The property cost roughly $350,000 to build and initially housed the Mutual Reserve Fund Life Association, which gave it its name. Over the years, the building housed numerous high-profile tenants, including contractor Richard Deeves & Son, Hapgood’s, the Patent and Trade-Mark Review, Miller Bros. Cutlery, Max Silverstein, and Baggott & Ryall. In 1920, the Broadway-John Street Corporation purchased 305 Broadway and started targeting tenants in the legal industry because of the property’s proximity to City Hall and the Courts. To this day, the property is home to various legal firms, financial services tenants, and media and tech companies. 

133 KSF of Class B City Hall Office Space

The 305 Broadway property features close to 133,000 square feet of Class B City Hall office space across 13 floors. Built in 1894 and renovated in 2013, the building is owned by Reade Broadway Associates. It incorporates 10,000 square feet of ground-floor retail space and pre-built office space for legal companies and healthcare businesses. Amenities include easy access to public transportation, building security and 24/7 access, natural light, and flexible office space. 

Getting to and from 305 Broadway

The office building at 305 Broadway is conveniently located at the corner of Broadway and Duane Street, close to the Jacob K. Javits Convention Center, the Ted Weiss Federal Building, New York City Hall, and all the courts in the City Hall submarket. Those working within the building have easy access to public transport options via the nearby City Hall station serving the R and W lines. 

Who is renting office space at 305 Broadway?

305 Broadway is home to various office tenants in industries like healthcare, media and communications, technology, and law. Tenants include JP & R Advertising, Goldhaber Weber & Goldhaber, Globe Language Services, Berton Law, Broadway Funding Group, Duane Reade, and Walgreens. 

How much is the rent price for office space at 305 Broadway?

Office asking rents at 305 Broadway are roughly on par with the average rents commanded by Class B office properties in the City Hall submarket. Rents for office space at 305 Broadway start at $50 per square foot but can vary depending on the terms, size, and length of the lease agreement. 

Image via Google Street View

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