NYC Taxi and Limousine Commission Signs Lease at AmTrustRE’s 250 Broadway

NYC Taxi and Limousine Commission Signs Lease at AmTrustRE’s 250 Broadway

AmTrustRE has secured a major tenant for its 250 Broadway property in Manhattan’s Financial District. The New York City Taxi and Limousine Commission (TLC) has agreed to relocate its headquarters to the office tower, leasing 39,000 square feet across the fourth and fifth floors.

The agency is moving from its previous location at 33 Beaver Street, also in the Financial District. The new space will house private offices, conference facilities, and a dedicated hearing room for public proceedings. The transition is scheduled for the first quarter of 2027. Specific details regarding the lease term and rental rates were not disclosed, though Colliers data places the average asking rent for the Financial District at $60.61 per square foot as of the first quarter.

This transaction significantly boosts the occupancy of the 31-story, 648,000-square-foot tower, bringing it to 90 percent leased. The building now hosts a diverse roster of tenants, including coworking firm WeWork, law firm Rose & Rose, and academic publisher IGI.

Representing AmTrustRE were Anne Holker and a team from CBRE Group, Inc., including Brad Gerla, Michael Rizzo, and Alex Benisatto. The tenant was represented by Gus Field of Cushman & Wakefield. CBRE Group, Inc. operates globally, providing advisory services, building operations, and real estate investment management.

Currently, CBRE Group, Inc. is trading at $149.46, reflecting a decline of 1.85% from the previous close of $152.28. The company holds a market capitalization of approximately $40.84 billion.

What to watch

• The scheduled relocation of the TLC in the first quarter of 2027.
• Future leasing activity at 250 Broadway as the building reaches full capacity.
• Upcoming earnings reports from CBRE Group, Inc. for insights into the broader commercial real estate services market.

Source: original release