Silverstein Properties, a real estate investment, development and management firm, has signed a relocation agreement with the German American Chamber of Commerce in New York (GACC NY) at 120 Wall Street, its modernized Downtown office tower. GACC will move from its current office at 80 Pine St.
Established over 75 years ago to promote commerce between Germany and the United States, GACC NY will occupy a prominent portion of the Class-A building’s 20th floor. GACC NY will relocate to 120 Wall this coming summer from 80 Pine Street, which is expected to undergo an office-to-residential conversion.
Built in 1930 and maintained by Silverstein Properties, 120 Wall Street offers nonprofit organizations like GACC NY a reduced or eliminated real estate tax bill through the term of their lease and as the result of a joint program administered by Silverstein Properties and New York State’s Empire State Development. The initiative has attracted nonprofits such as amfAR, Catalyst, and Girls, Inc. to 120 Wall Street.
“We are delighted to welcome the German American Chamber of Commerce to 120 Wall Street, a crown jewel within Silverstein Properties’ portfolio,” said Harlan Strader, Vice President of Commercial Leasing at Silverstein Properties. “Our success in reaching virtually full occupancy at the building is testament to the Silverstein team’s excellent stewardship, our Inspire amenity program and our longstanding partnership with New York State to create affordable, high-quality spaces for the nonprofit community.”
GACC NY will benefit from Silverstein Properties’ Inspire program, which delivers hospitality-focused programming across the company’s entire portfolio. Tenants can take advantage of hotel-quality on-site concierge services, social and wellness programming and a wide range of other amenities designed to seamlessly integrate with workers’ daily routines. 120 Wall Street also offers sweeping waterfront views, as well as easy access to a multitude of transit options and the wider vibrancy of downtown Manhattan.
“120 Wall Street is an ideal location and environment as we continue to support German companies to operate and thrive within the United States,” said Susanne Gellert, President & CEO of the GACC NY. “The care and attention to detail that Silverstein Properties provides will support our important mission while also fostering a productive and inspiring work environment for the entire GACC NY team.”