May 22, 2025

Trinity Church Expands Office Leases in Manhattan

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News Summary

Trinity Church has signed three new office leases at 107 Greenwich St., Manhattan, totaling 42,643 square feet. Notable tenants include Industrious, Digital Asset, and Swap Commerce, reflecting the rising demand for flexible office spaces in the Financial District amidst shifting business needs.

New York City

Trinity Church has signed three new office leases at its property located at 107 Greenwich St., Manhattan. The leases consist of a combined total of 42,643 square feet of office space, accommodating a diverse range of tenants.

Leases Overview

The largest lease, covering 24,534 square feet, has been secured by Industrious, a company known for its flexible workspace solutions. The leasing agreement reflects the growing demand for flexible office environments in the Financial District, showcasing Trinity Church’s commitment to adapting to current market needs.

The second lease was signed by Digital Asset, which will occupy 12,267 square feet for a period of 10 years. Digital Asset specializes in building blockchain-based solutions and its presence further enhances the area’s tech ecosystem.

The final lease is with Swap Commerce, which will lease 5,842 square feet at the same address. This tech-driven company emphasizes the trend of digital commerce becoming more prominent in urban landscapes.

Brokers Involved

All three leases were brokered by representatives from JLL for Trinity Church, including John Wheeler, Andrew Coe, and Margaux Kelleher. On the tenant side, Cushman & Wakefield represented Industrious, while Digital Asset was represented by Savills, and Swap Commerce by Cresa.

Context of the Financial District

The Financial District has historically been one of the world’s most significant economic hubs, with a concentration of financial services and emerging tech companies. The recent leasing activity indicates a growing interest in the area, despite the challenges posed by remote work trends. Tenants are increasingly seeking flexible office spaces that can accommodate changing business models.

In addition to these announcements, other notable transactions within the broader New York City commercial real estate market have included various leasing and financial activities across different sectors.

Recent Real Estate Transactions

In another notable transaction, Goose Property Management secured an $80 million loan from Affinius Capital to support a multifamily property at 570 Fulton St., Brooklyn. This investment signals ongoing confidence in the multifamily segment as cities recover from the pandemic.

Furthermore, GFP Real Estate entered into a seven-year lease agreement with Architectural Partnership Atelier for 5,100 square feet at 200 Varick St., Manhattan. This agreement illustrates the continued demand for office space in Manhattan.

Additional sales and transactions include the sale of office space at 646 Parkside Ave., Brooklyn for $16.5 million, and a loan secured by BFC Partners for $36.9 million at 235 Central Park N., Manhattan.

As the commercial real estate market continues to evolve, the recent activity in office leasing and other property transactions signifies a dynamic landscape where traditional and modern business practices converge.