An Online Cannabis Juggernaut Expands In Lower Manhattan

02/18/2020 in
An Online Cannabis Juggernaut Expands In Lower Manhattan

If you’re a normal New Yorker, there’s a substantial part of your life that’s inexplicably devoted to following the latest real estate hearsay, whether or not it has any impact on your life at all. So we’ve made it easy to keep yourself informed about the cityscape below Chambers Street with the latest news about the Lower Manhattan market.




Celonis, a Munich-based business-analytics tech firm, has signed a 34,328-square-foot lease for the entire 87th floor at One World Trade Center. The company is relocating its US headquarters from 119 West 40th Street in Midtown. Celonis’ deal brings One World Trade Center to more than 85% lease capacity.

LeafLink, an e-commerce site serving the cannabis industry, has expanded to 12,863 square feet from 6,000 square feet at 80 Broad Street. The company signed a five-year lease for the full 11th floor of the building.

Speakerbus, a telecommunications equipment supplier, leased 3,379 square feet at 120 Broadway.

Diageo, a global beer and spirits company that owns brands including Crown Royal, Don Julio, Guinness, Johnnie Walker and Smirnoff, has officially opened its new 87,000-square-foot North American headquarters at 3 World Trade Center (the deal was originally announced in early 2019). The company invested $31 million into the relocation from Norwalk, Connecticut. With the move, Diageo brought 350 new jobs to the city, while preserving roughly 150 existing Diageo jobs in New York City.




Tacombi, a popular Mexican taqueria, opened Saturday, February 15, at 74 Broad Street. The location was once occupied by Flavor’s Cafe.

Lazzaro’s, a fast-casual eatery, will open soon at 110 Trinity Place. It replaces Charly’s and Steve’s Pizza.

Elysium Health, an online health/wellness brand, will open its first brick-and-mortar store at Westfield World Trade Center over the summer. It will replace Turnbull & Asser.




—The Rector Street Bridge has been dismantled. The 18-year-old structure, originally intended to be temporary, was built in the aftermath of the September 11 attacks. The bridge allowed pedestrian access across West Street and connected Battery Park City to the eastern portion of Lower Manhattan. Its replacement, the Robert Douglass Pedestrian Bridge, opened one block south this past summer.

—The city council has partnered with the Van Alen Institute to sponsor a design contest to generate proposals for better pedestrian access to the Brooklyn Bridge.

—A new ferry service connecting Bayonne, New Jersey, to Lower Manhattan will begin in September. Seastreak will operate the ferry route.




—Construction continues at 185 Broadway. In addition to ground-floor retail and 37,240 square feet of commercial space, the 260,000-square-foot building will yield 209 rental units, with 63 units (30%) dedicated to affordable housing. 185 Broadway was designed by FXCollaborative and is being developed by SL Green. Completion is scheduled for spring 2021.

245 Water Street, a historic warehouse that was purchased by Trinity Church in August 2019 for $12.3 million, will be converted into a four-family residence using environmentally rigorous “passive house” design standards. The 13,000-square-foot building was previously configured as a two-family residence.



Now you’ve got plenty of fodder the next time someone asks you about the latest moves in Lower Manhattan, among other juicy real estate details.

Tags: developing lower manhattan, for the real estate voyeur, lower manhattan market update

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