Gastronomic-Paradise

Revived leasing activity at Aby Rosen's 17 State St. office tower in the Seaport district

Rapid leasing observed at 17 State St. in the Seaport area, following RFR Realty's refinancing of the harbor-facing, 571,000 square-foot office edifice in January. The refinancing was part of three such operations executed by RFR Realty chief Aby Rosen on economically strained properties. The...

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2025 September 8 . 2:15 AM

2 min read

Revitalized Office Tower at 17 State St., managed by Aby Rosen, inks fresh lease agreements

Revived leasing activity at Aby Rosen's 17 State St. office tower in the Seaport district

In a significant move, blockchain security platform Fireblocks has signed a lease for 35,000 square feet at 5 Penn Plaza, marking an expansion from its current location at 441 Ninth Ave. Meanwhile, the company has also secured a space at 17 State St., adding to the growing list of tenants at this modern building.

The refinancing of the 571,000 square-foot office tower at 17 State St. near the Seaport was one of three such transactions completed by RFR head Aby Rosen on previously strained properties. The newly refurbished 17 State St. boasts a new lobby, open views, an amenities center, and a dog-friendly roof terrace, enhancing the work environment for its occupants.

The Liberty Lounge and Conference Center, a 4,300 square-foot amenities space, has been launched on the third floor of 17 State St. This space includes a lounge, cafe, library, screening room, and ornamental foliage as an homage to nearby Battery Park.

Newmark's Aaron Ellison and Adam Spector represented Fireblocks in the transaction, while JLL's Mitchell Konsker represented the landlord in the deal at 17 State St. Five renewals totalling 68,362 square feet have taken place at 17 State St., with the largest being for Alphadyne Investment Management renewing on 43,872 square feet.

At 5 Penn Plaza, Investor-landlord Stephen Haymes' reinvestment and repositioning efforts continue to bear fruit. Asking rents at 5 Penn Plaza range from $70 to $80 per square foot, while those at 17 State St. range from $65 to $75 per square foot. As of now, both properties are more than 85% and 89% leased, according to CoStar.

In addition to Fireblocks, Aby Rosen has signed deals with three new tenants totaling over 12,000 square feet at 17 State St., including AI-powered life insurance tech firm Optifino. These developments underscore the growing appeal of these properties in the heart of Manhattan.