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Debt-Consolidation Firm Takes Big Lease At 180 Maiden Lane

180 Maiden Lane

Consumer-debt resolution company National Debt Relief is taking a large chunk of the Financial District space once occupied by AIG. 

National Debt Relief has signed a lease for around 95K SF at 180 Maiden Lane, which is owned by MHP Real Estate Services and Clarion Partners, the Wall Street Journal reports. The building has undergone a $180M makeover and National Debt Relief will be moving from 11 Broadway.

The firm, which helps people restructure their debt, will move to floors 29, 30 and 31 at the skyscraper by the end of the year. It is planning to hire hundreds of new employees in the next 12 months, according to the WSJ. Last year, the New York City Department of Investigations took 276K SF at the 1.2M SF building.

First-quarter leasing activity Downtown hit a total of 818K SF, according to Cushman & Wakefield data, a fall of 60% from the same period in 2017, although there has been an uptick in activity in recent weeks.

Over the next nine months, nearly 8M SF of empty office space will hit the Manhattan market, according to Colliers International, and landlords are competing with amenities and concessions to score tenants.