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Williams Real Estate to lease 50 Broadway.

Williams Real Estate Company, Inc. has been appointed by CIGNA Investments as exclusive leasing agent for 50 Broadway in lower Manhattan. CIGNA is a division of Connecticut General Life Insurance of Bloomfield, Connecticut. Boston Properties was previously appointed to serve as the building's property manager.

50 Broadway is a 37-story, 300,000-square-foot building located near the foot of Broadway at Exchange Street. Built in 1927, the property boasts an "old world" style lobby, with upper floors offering dramatic views of New York harbor.

Current tenants in the building include Banco Central, which operates a street level retail operation, as well as Chase Manhattan Bank, M&T Bank, Keane Securities, Hibbard Brown, Credit Lyonnais and Gelt Funding Corporation - all of which occupy office space.

CIGNA obtained the property in a foreclosure proceeding earlier this year and will now be operating the building as an investment property. The change in ownership, which removes the building from receivership status, re-establishes the facility's ability to compete in the marketplace for tenants.

Floor sizes range from nearly 15,000 square feet in the building's base, to tower floors of 3,200 square feet. Current availabilities offer up to 25,000 square feet of contiguous space.
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Title Annotation:Williams Real Estate Company Inc. will lease commercial space in New York, New York
Publication:Real Estate Weekly
Date:Oct 14, 1992
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