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After months of delay, the New York City Department of Investigations has signed a lease at 180 Maiden Lane in the Financial District.
The lease seemed a done deal but was held up in April when the Department of Citywide Administrative Services decided to re-review all leasing activity for city departments. With the green light apparently back on, the DOI has signed on for 276K SF at the Clarion Partners and MHP Real Estate Services-owned building, the New York Post reports.
The DOI will be expanding its footprint by 75K SF while consolidating offices from multiple locations in the city once the deal is closed. That process could still take some time, as it must still be reviewed by Administrative Services and is up for a hearing in September before final approval can be granted.
MHP and Clarion purchased 180 Maiden Lane in 2015 for $470M and subsequently spent $28M renovating it with modern amenities such as coffee and gelato bars, a high-end fitness center and increased public and collaborative spaces. The DOI will become the tower's largest tenant, surpassing law firm Stroock, Stroock & Lavan's 225K SF.
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