Paramount announces 137,000 s/f Financial Sq. deal.Just before the close of 2004, Paramount Group scored a coup in signing one of the top five largest leasing deals of the year in downtown Manhattan. Financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. giant TD Waterhouse TD Waterhouse is the brand used for both British and Canadian brokerages within the TD Bank Financial Group. The brand originated as a United States brand for discount brokerage when TD purchased Waterhouse Securities. signed a 137,000 s/f lease at Paramount's Financial Square, making the one million square-foot office building across from the South Street Seaport The South Street Seaport is a historic area in the New York City borough of Manhattan, located where Fulton Street meets the East River, and adjacent to the Financial District. The Seaport is usually considered a historical district, distinct from the neighboring Financial District. its headquarters location. TD Waterhouse will consolidate four Manhattan locations into one office at Financial Square when the firm takes occupancy in early 2006. "In 2004, we signed new leases for more than 275,000 square feet at Financial Square alone," said Paramount Group Vice President Arthur L. Bocchi, who, along with Cushman & Wakefield, represented the landlord in lease negotiations with TD Waterhouse. "The leasing success of Financial Square confirms that Downtown Manhattan isn't just coming back, it IS back, in a big way. We're very encouraged that the financial services companies continue to acknowledge that Lower Manhat tan is still the location of choice for their industry." "Furthermore, Financial Square was specifically designed with the deep technological infrastructure and redundant power capability to accommodate firms such as TD Waterhouse that effectively need to run their operations 24/7," said Albert P. Behler, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at Paramount Group. "We're not surprised that the building has always maintained its viability even during market downturns. With its soaring soaring: see flight; glider. soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. 40-foot-high granite and marble lobby and unobstructed vistas of the Manhattan skyline that complement its technological attributes, it is obvious why Financial Square is leading the market turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. now taking place downtown." In its lease negotiations with Paramount Group, Mark Ravesloot of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. represented TD Waterhouse. Earlier in 2004, Paramount Group signed two other large leases (70,000 square feet each) at Financial Square with insurance brokerage firm Frank Crystal & Co. and the U.S. Department of Education. |
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