Shipping Insurance Firm Finds New Downtown Quarters

NEW YORK CITY-A shipping insurance firm that has maintained a Downtown presence for 80 years will leave its Wall Street space but remain in Lower Manhattan. American Marine Management Services has just signed a 14,000-sf lease at 30 Broad St. and plans to move from its current premises at 14 Wall St. shortly.

Insignia/ESG’s Andrew Peretz and Gerry Miovski negotiated the 12-year deal on behalf of American Marine, while Barrett Stern of Murray Hill properties represented building owner 30 Broad Associates LLC. The rent is in the low- to mid-$30s per sf “with a very significant free rent contribution,” Stern tells GlobeSt.com.

“Our client was eager to vacate its Wall Street headquarters, but moving anywhere else but downtown was not an option,” says Peretz. “It’s a good sign for downtown that so many of its commercial residents, who could easily relocate to other parts of Manhattan given the surplus of sublet space available, decide to remain in Lower Manhattan.”

Other tenants at the 430,000-square foot building include the New York Stock Exchange, Wall Street Systems, and Utendahl Capital.