Lower Manhattan’s waterfront just got a fresh, 34,000-square-foot vote of confidence. Rudin has secured a pair of office deals at One Battery Park Plaza, bringing the city’s Independent Budget Office in on a long-term lease while convincing talent-technology firm Radancy to stick around. The two transactions combine a 21-year deal for about 18,765 square feet on part of the fourth floor with a five-year renewal for roughly 15,622 square feet on the 27th floor, reinforcing the tower’s appeal as tenants and landlords juggle location, infrastructure and office upgrades.
According to New York Real Estate Journal, the move marks IBO’s first office relocation since the agency was created in 1989. IBO Director Louisa Chafee said the new digs will offer “an excellent working environment” along with flexible space for events. The listing also notes that Radancy, which has used One Battery Park Plaza as its headquarters since 2021, agreed to extend its stay. Rudin executive Kevin Daly framed the two deals as a clear signal of confidence in the property.
City approval and the agency's rationale
As outlined by the City Planning Commission, the Department of Citywide Administrative Services and IBO filed a Notice of Intent, and the commission signed off on the acquisition in February after finding that the 18,765-square-foot space on the fourth floor would satisfy the agency’s operational needs. The public filings note that IBO had been operating out of about 8,503 square feet at 110 William Street and has grown to roughly 51 full-time employees, a size the documents say warrants a larger, more adaptable headquarters.
What the building offers
Rudin’s materials spotlight efficient floor plates of roughly 28,000 square feet, an Italian marble lobby that underwent a renovation in 2015, and updated building systems that include Nantum AI for operations. The company also touts WELL Health-Safety and WiredScore Platinum certifications, along with tenant services delivered through the Rudin Experience app. Together, those features position One Battery Park Plaza as a Class A, tech-forward option in a market where upgraded offices are increasingly winning out.
Brokers and deal representation
Rudin said it handled the landlord representation in-house through Kevin Daly, while CBRE’s Sean Wilson and Jonathan Cope represented the city and Gerry Miovski and Masha Dudelzak represented Radancy, according to Commercial Observer. Radancy’s renewal keeps its existing headquarters presence intact on the upper floors, and the IBO lease brings in a municipal tenant on a long-duration term that helps underpin the tower’s occupancy.
Lease terms and public filing
Public notices in The City Record show that the city’s lease runs for 21 years and includes scheduled rent abatement and options for tenant termination, with full lease documents available for public inspection. Those municipal records spell out the rent schedule and the standard conditions that typically accompany a long-term city tenancy.
What it means for Lower Manhattan
Long-term commitments from both a public agency and a tech tenant give a boost to Lower Manhattan’s higher-quality office stock, which has been outperforming older buildings as companies gravitate toward efficient layouts and modern systems. Market research on the Downtown submarket points to improving asking rents and absorption for Class A space, according to Colliers. For Rudin and other stakeholders in the Financial District, the latest deals help reinforce leasing momentum at One Battery Park Plaza.
