The Repositioning of Global Holdings’ 1250 Broadway

May 5, 2017

Tech Office Spaces Author

Washington D.C. Team Market Expert | Assistant Director, Savills Studley | DC/MD/VA Licensed Real Estate Broker

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NoMad Tower Newest Availability and Leasing Update

In November of 2016, real estate asset management firm Global Holdings acquired 1250 Broadway from Jamestown for $565 million and renamed it NoMad Tower. Global Holdings sunk $80 million into a capital improvement program and repositioning effort that will be completed in early 2019. The building’s entrance will be moved to West 31st Street and Broadway. With the anchor tenant, Visiting Nurse Service of New York’s departure, 435,000 square feet of contiguous space will be coming available in late 2018.

Visiting Nurse Service currently occupies the 2nd through 22nd floors with 15,000 square foot floor plates on 14-22 and 26,000 square foot plates from 2-12. In addition, the entire 13th floor encompasses a large usable terrace mixed with some of the building’s mechanical systems. Most recently, Transactis completed a full floor move within the building, leasing 15,356 square feet on the 34th floor. Transactis was able to achieve a deal in the $80’s per square foot, which is a market deal for the building with the exception of the top floor of the building (13-foot ceilings) asking $95 per square foot.

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