GFP Real Estate, LLC is pleased to announce that Acumen Fund, Inc., a non-profit impact investment organization focused on investing in social enterprises that solve global problems of poverty, has signed an 11-year lease extension for its 11,743 square feet of office condominium space at 40 Worth Street in TriBeCa.
“We are thrilled that Acumen will maintain its presence at 40 Worth while continuing its mission of investing in new technologies and startups that target communities in need,” said Jeffrey Gural, Chairman and Principal of GFP Real Estate, LLC.
Nick Farmakis and John A. Mambrino of Savills represented the tenant, Acumen Fund, Inc. in the transaction; Jeffrey Gural and Roy Lapidus of GFP Real Estate represented the commercial condominium owner/landlord, 40 Worth Street Associates, LLC; Acumen first moved into the building in 2016.
40 Worth Street is a neo-classical building, also known as the Merchants Square Building, that was built in 1929 by the architectural firm of Jardine, Hill & Murdock. Situated in upscale Tribeca in Manhattan, the building totals nearly 800,000 square feet, and occupies a full block from Worth Street to Thomas Street between West Broadway & Church Street. With large, efficient floorplates and oversized windows throughout, the building offers abundant natural light and exceptional city views, catering to small, medium and large tenants alike. Building tenants include an array of major non-profits including the Acumen Fund, the Legal Aid Society and the Innocence Project.
About GFP Real Estate, LLC
Committed to building a better New York since 1952, GFP Real Estate is a vertically integrated owner, operator, property manager and developer of commercial real estate in the New York metropolitan area. With over 55 buildings and more than 12.8 million square feet under ownership, GFPRE’s portfolio includes some of New York’s most iconic real estate assets.
About Acumen
Acumen is changing the way the world tackles poverty by investing in companies, leaders and ideas. We invest Patient Capital in businesses whose products and services are enabling the poor to transform their lives. Founded by Jacqueline Novogratz in 2001, Acumen has invested more than $154 million in 167 companies across Africa, Latin America, South Asia and the United States. We are also developing a global community of emerging leaders with the knowledge, skills and determination to create a more inclusive world. In 2015, Acumen was named one of Fast Company’s Top 10 Most Innovative Not-for-Profit Companies. Learn more at www.acumen.org and on Twitter @Acumen.
