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News From Tides

Not-for-Profit Takes Commercial Condo Site img-share-ph

November 11, 2005

By Barbara Jarvie

NEW YORK CITY-Tides Shared Spaces has acquired a 90,000-sf commercial condominium space at 15 Broad St. It comprises three full floors, a basement, lobby and dedicated entrance with the address of 55 Exchange Pl.

The space is within Leviev Boymelgreen’s residential building, Downtown by Philippe Starck. The parties have not released the price, but asking prices on Lower Manhattan commercial condos are starting around $400 a foot, according to Newmark.

The San Francisco-based not-for-profit organization develops infrastructure projects for other not-for-profits. The space will house Thoreau Center New York, a multi-tenant nonprofit center with work and program space for New York City non-for-profits and cultural organizations.

Zvi Boymelgreen, CEO of Leviev Boymelgreen, says Lower Manhattan is increasingly becoming home to companies from outside the financial services sector, “broadening the economic base and ensuring its long term success as a commercial hub.” Leviev Boymelgreen newest site, 14 Wall St., will also contain a number of commercial condominiums and the firm plans to reserve a portion for not-for-profit tenants.

Alice DiMarzio, Howard J. Kesseler and James Kuhn of Newmark Capital Group represented Leviev Boymelgreen along with Jordon Metzger of Herrick Feinstein and Samantha Sheebar of Starr Associates. Diego Recalde of Concrete Stories and Adam Spencer of Spencer & Associates represented Tides.