Freedom House expands into 120 Wall Street

Real Estate Weekly, May 19, 1993

Helmsley-Spear, Inc. has closed a lease for Freedom House, a non-profit international organization, for the entire 26th floor at 120 Wall Street. 120 Wall Street is one of the few buildings in New York City in which real estate taxes have been waived for non-profit organizations. Helmsley-Spear's Howard J. Tenenbaum, vice president, and Gary M. Rosen represented the tenant in the transaction.

Freedom House is dedicated to protecting human rights, political rights and promoting the growth of democratic institutions throughout the world. Its 15-year lease for 12,671 square feet has an aggregate value of over $3.5 million.

120 Wall Street, located in the heart of New York's Financial District, is owned by real estate developer Larry Silverstein. The 34-story, 546,948-square-foot tower is part of a joint effort with the City of New York to attract and retain non-profit groups. Edward Kulick, Jr. and Alane Berkowitz represented the owner. Legal representation was provided by Charles B. Salfeld of Bachnet, Tally, Polevoy & Mesher for the tenant, and Stacey Fabrikant of Carb, Luria, Glassner, Cook and Kufeld for the owner.

Freedom House was formerly located in 6,000 square feet of space at 48 East 21st Street.