NEW YORK—The American Institute of Chemical Engineers (AIChE) has signed a long-term, 16,506-sq.-ft. headquarters lease at 120 Wall Street. Colliers International’s Leon Manoff, vice chairman, and Robert Kennedy arranged the lease working on behalf of the tenant. Roger Silverstein and Joseph Artusa of Silverstein Properties represented the landlord in-house in the transaction.
AIChE is a nonprofit organization with more than 45,000 members in more than 90 countries. The organization is relocating to Wall Street from its current space at 3 Park Ave. and is slated to move to its new space later this year, where it will occupy the entire 23rd floor.
“After a two-year search of both Midtown South and Downtown, which included inspections of over 50 properties, AIChE elected to relocate to 120 Wall Street, one of the few buildings to provide an incentive program for not-for-profits,” said Manoff.
Standing 34 stories tall, 120 Wall Street provides unobstructed views of the East River and contains 615,000 sq. ft. of class-A office space. The property is nearing completion of a capital improvement program.
In addition, the building is designated as an Association Center as part of an incentive program sponsored by the State of New York through the Empire State Development Corporation. Additional nonprofit tenants include American Foundation for AIDS Research, Jewish Child Care Association and National Urban League, among others.