CB Richard Ellis tapped to lease 14 Wall Street.

In conjunction with its recent acquisition of 14 Wall Street, Capstone Equities and The Carlyle Group have tapped CB Richard Ellis as the exclusive leasing agent to oversee an ambitious marketing campaign at the landmark office tower. The new ownership also unveiled a $50 million redevelopment plan for the property, which will include 100,000 sq. ft. of quality pre-builts designed by MKDA.

CBRE's Howard Fiddle, Vice Chairman; Bradley Gerla, Senior Vice President; Jonathan Cope, First Vice President; and Matthew Preotle, Senior Associate; will spearhead the marketing effort for the 1.1 million-sq.-ft. building, which offers units ranging from 2,400 sq. ft. to full floors of 39,270 sq. ft.

According to Josh Zamir of Capstone Equities, "Recognizing the untapped value of 14 Wall Street was the first step in our commitment to the property. In addition to bringing CBRE onboard, our hands-on management team style will focus not only on reacting to a potential tenant's needs, but foreseeing them by building 100,000 sq. ft. of space on spec."

"Considering both the historical significance of the property as well as ownership's commitment to developing a substantial block of high-quality space, 14 Wall Street is poised to become one of Downtown's most sought-after addresses," said Mr. Fiddle.

"Given Downtown's fast-improving real estate dynamics and lack of this type of quality pre-built office space, we believe that this opportunity will not remain on the market for long," added Gerla.

While the CBRE team of top brokerage professionals will oversee leasing at the property, Capstone and Carlyle have also assembled a project team of highly acclaimed architects and builders to create a "new" 14 Wall Street. in addition to the 100,000 sq. ft. of pre-builts, the property will undergo a major interior transformation that will include a redesigned lobby, mechanical upgrades and the cosmetic modernization of the building exterior.

The project will also feature a state-of-the-art marketing center on the second floor where a CBRE team will be on site to work with tenants throughout the lease negotiation process. Gensler is providing architectural and design services that will esthetically enhance the lobby and common areas.

Built in 1910 for the Bankers Trust Company, 14 Wall Street, with its distinctive pyramidal roof, is strategically located across from the New York Stock Exchange and Federal Hall, just steps from Broadway. The property, which once was the tallest and most prestigious building in Manhattan, is once again set to redefine Lower Manhattan by offering some of the most spectacular office space available on the market.

In addition to overseeing the leasing assignment, CBRE will also serve as the property's managing agent. Gregg Popkin, CBRE's Senior Managing Director of Asset Services, will spearhead the management team.