Silverstein Properties, a national real estate investment, development and management firm, today announced that Tower Research Capital, a trading and technology company that has built some of the fastest, most sophisticated electronic trading platforms in the world, signed a 15-year, 121,903-square-foot office lease at 120 Broadway, the landmarked “Equitable Building” in Lower Manhattan. Relocating from 148 Lafayette and 377 Broadway, Tower Research Capital will establish its global headquarters and largest office location at the iconic tower, occupying the 37th, 38th and 39th floors of the 40-story building in the fourth quarter of 2024.
Tower Research Capital builds technology and deploys its diverse automated and quantitative strategies across a broad range of asset classes in global markets around the clock. The firm has 12 offices in seven countries including locations in Chicago, Charleston, Montreal, London, Amsterdam, Gurgaon, Singapore, Hong Kong and Shanghai.
“Tower Research Capital is a world-class company in every respect, and we are delighted to welcome them to 120 Broadway,” said Harlan Strader III, Vice President of Leasing at Silverstein Properties. “The continuous leasing momentum we have seen at 120 Broadway is thanks to the building’s state-of-the-art amenities, tailored hospitality, direct subway access, and its prime location in the heart of Downtown Manhattan.”
Silverstein Properties has completed a series of major capital improvements that have updated and revitalized 120 Broadway from ground floor to rooftop, restoring it back to its original beauty while creating a superior experience for tenants. A premier amenity available to employees in the building is The Bankers Club, a tenant-exclusive penthouse with terraces overlooking Downtown Manhattan, as well as a lounge, café and food hall. The 10th floor features a lounge, yoga room and conference facilities for tenants, as well as a recently-opened collection of bespoke spaces including an arcade, a speakeasy designed by a prominent street artist, and a 1940s-inspired detective office.
“In our search for a new global headquarters, our primary goal was to find a great space to cultivate our unique culture, and foster employee collaboration as we continue to grow,” said Joseph Doherty, Global Head of Corporate Services at Tower Research Capital. “120 Broadway offers inspiring space across three top floors, access to world-class amenities, the infrastructure needed to accommodate our complex networks and systems, and a central location that will allow us to attract and retain top talent.”
With soaring vaulted ceilings, gold leaf accents, marble floors, and hand-carved architectural detail, 120 Broadway has been an icon of classic style for over a century. The building spans a full city block and is located steps from two major transit hubs, The Oculus and Fulton Center.
Tower Research Capital will join several new tenants at 120 Broadway including Chase Bank, New York City Housing Development Corporation (NYCHDC), The Original BARK Company, The Domain Companies, Kasirer, Old Mission Capital, and Rothesay Asset Management US. The building is also home to a group of longer standing tenants including Macmillan Publishers, Beyer Blinder Belle, the Alliance for Downtown New York, Handel Architects, Thornton Tomasetti, The Brennan Center for Justice, and The Capital Grille.
Across Silverstein Properties’ portfolio, tenants have access to a new hospitality program, INSPIRE, offering premier hotel-quality amenities, community events, fitness classes, and access to every amenity space and flexible co-working space in the Silverstein portfolio, allowing customers to choose the best work environment for their needs.
Joseph Artusa and Harlan Strader of Silverstein Properties, and Scott Klau, Brian Waterman and Erik Harris of Newmark represented the landlord in the deal. Luke Raimondo, Mark Weiss and Michael Mathias of Cushman & Wakefield, and Joseph Doherty, Don Wehmann and Matthew Faucetta of Tower Research Capital represented the tenant in the deal.
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