News Summary
The New York State Office of General Services has finalized a 10-year lease for a 44,000-square-foot office at 1 New York Plaza. The Office of Information Technology Services will occupy the space, aimed at enhancing technological capabilities and recruitment efforts. This strategic move underscores OGS’s commitment to improving public services and operational efficiency. The new office is set to open in the fall of 2025 and will include various departments focused on technology, including dedicated training areas for new staff.
New York – The New York State Office of General Services (OGS) has finalized a 10-year lease for a substantial 44,000-square-foot office space located at 1 New York Plaza. This agreement, which was disclosed in a recent report by the Alliance For Downtown New York, a nonprofit organization overseeing the area’s business improvement district, marks a significant step for the OGS and its affiliated divisions.
The lease, executed on behalf of the New York State Office of Information Technology Services (ITS), will see ITS occupy the 31st floor of the high-rise building. The new office is scheduled to open in the fall of 2025 and aims to enhance recruitment efforts for technology talent within the New York City area. This initiative is part of OGS’s broader strategy to bolster the operational capabilities of ITS, which oversees a variety of technological functions and services for the state.
Office Operations and Features
The space at 1 New York Plaza will accommodate all operations relating to ITS, including pivotal roles such as the chief information security officer, digital experience specialists, enterprise networking teams, and support services personnel. Additionally, the design of the office will feature dedicated areas for training and onboarding new staff, highlighting the focus on fostering a skilled workforce in the technology sector.
About 1 New York Plaza
1 New York Plaza, also recognized as 1 Water Street, is a prominent 50-story structure situated in Lower Manhattan, offering a total of 2.58 million square feet of Class A office space. Constructed in 1970, the building provides large floor plates that measure approximately 46,000 square feet, making it an attractive location for organizations seeking substantial office environments.
Building Renovations and Other Tenants
Recent investments have revitalized the property, with Brookfield allocating $15 million towards refurbishing the building’s retail concourse. While the specific asking rent for the newly leased space was not made public, historical data indicates that another tenant, Revlon, previously paid $55.98 per square foot for its own space within the premises. Revlon occupied 107,121 square feet across three floors with a lease that is due to expire in June 2030. Other notable tenants in the building include major firms such as Morgan Stanley, Spacesmith, and the law firm Fried Frank.
OGS’s Strategic Goals
OGS, which has established itself as a key player in government operations, also maintains a presence in other locations, such as the Adam Clayton Powell Jr. State Office Building in Harlem. The agency’s recent lease agreement aligns with its strategic goal of enhancing technological infrastructure and capabilities aimed at improving public service delivery through better-trained personnel.
Transaction Representatives
In this transaction, representatives for OGS from CBRE included Steve Siegel, Rocco Laginestra, and Liz Lash, while Brookfield executed the lease agreement in-house. As of the time of reporting, Brookfield had not provided immediate responses to requests for additional information regarding this lease or future plans for the property.
This lease agreement exemplifies OGS’s dedication to advancing its operational efficiency and meeting the evolving needs of technology services within the state, ultimately benefiting both employees and the public they serve.
Deeper Dive: News & Info About This Topic
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