Renowned design studio Collins is relocating its New York headquarters across the East River to Manhattan. The multi-award-winning firm has signed a lease for 11,380 square feet of space at 207 Front Street. The property is owned by Seaport Associates. The agreement encompasses the entire office portion of the four-storey, listed building.
The lease was signed for a fixed term of five years and includes an option to renew for a further five years. The asking rent stood at around $50 per square foot. On the tenant side, Jacob Wolkenfeld and Benjamin Schanzer of Norman Bobrow & Company advised on the negotiations, whilst the landlord was represented by Christopher Okada and Parveen Rampersaud of Okada & Company.
High competition for historic space
According to tenant adviser Wolkenfeld, competition for the space in the listed brick building was intense. Several interested parties had applied for the property. Collins was ultimately awarded the space because the agency was considered an ideal tenant to bring additional dynamism to the district. Okada, in turn, described the South Street Seaport as an outstanding location that will evolve into a leading destination in the coming years alongside denser residential development.
The building was constructed in 1797 and is located in the historic South Street Seaport Historic District. Following the arrival of Collins, only a 1,300-square-foot retail unit on the ground floor remains vacant. These premises were formerly occupied by the now-defunct chain Big Gay Ice Cream.
Departure from Brooklyn
To date, Collins has maintained its headquarters in Williamsburg, Brooklyn, at 457 Grand Street. The creative agency, which has been named Agency of the Year eight times by trade magazine Ad Age since 2019, plans to move into Lower Manhattan early next year. The new office space will also feature a storied in-house library.
- —Property address: 207 Front Street in the South Street Seaport Historic District
- —Leased space: 11,380 square feet across four storeys (entire office space)
- —Terms: Five-year lease with extension option at an asking rent of around $50 per square foot
- —Owner and former tenant: Seaport Associates as owner; 1,300-square-foot ground floor formerly occupied by Big Gay Ice Cream
