Telecom giant commits to 24,000 s/f at 61 B'way.

Verizon Information Services, a division of Verizon Communications, Inc., has signed a new 24,000 s/f, full-floor lease at 61 Broadway.

Broad Street Development, the owner and manager of the property, was able to close the deal with Verizon in less than a month, and will complete the build out in just a few months, allowing the corporation to occupy the space in record time.

Raymond Chalme, President of Broad Street Development, made the announcement.

Daniel M. Blanco, executive vice president and director of leasing for Broad Street Development, represented 61 Broadway in the deal while Scott Sloves and Laurence Briody, of CB Richard Ellis, negotiated the lease on behalf of Verizon. David R. Lachtman, Esq. of Platte, Klarsfeld, Levine & Lachtman, LLP handled the legal matters for the owners.

"This deal is a major victory for the downtown market which has faced some challenges in attracting large name tenants," commented Mr. Chalme. "We believe this Verizon deal will continue to attract more prominent, large space tenants to this market and support its revitalization."

"Our ability to work directly with Verizon, was instrumental in allowing the negotiations to proceed quickly and efficiently," commented Mr. Blanco. "While the property's advanced infrastructure was clearly a draw for the organization, our team of engineers, architects and construction managers capable of handling this rapid build out helped finalize the deal."

The 653,000 s/f, over 90% occupied property was built in 1916 and features a diversified tenant base ranging from law firms to financial institutions.