Carbon Offset Firm Inks Sublease at 10 East 40th Street

10 East 40th Street - Mercantile BuildingThe CarbonNeutral Company, whose recent local client roster includes Bruce Ratner’s star-crossed New Jersey Nets, recently moved its North American regional headquarters into a new office suite on the 31st floor of the Mercantile Building at 10 East 40th Street between Fifth and Madison. The UK-based firm assists clients in carbon management and reduction strategies, including the purchase of carbon offsets; it has worked on over 200 projects in 6 continents since its founding in the early 1990s.

CarbonNeutral’s new 5000-square-foot space at the Mercantile Building is more than double the size of its old home at 527 Madison Avenue. Asking rents for the space were $40 per square foot; the Lansco Corporation represented CarbonNeutral and Newmark Knight Frank the sublessor. The art deco Mercantile Building was built in 1929 and designed by Ludlow & Peabody; at the time, it was the 4th tallest building in the world. The 48-story tower offers 350,000 square feet of office and mixed-use space and is also home to the Moroccan consulate.

This is the second commercial lease we’ve noted recently here at gbNYC signed by a socially responsible company. It’s anecdotal evidence, of course, but interesting and, perhaps, instructive to note that these sorts of firms are actively looking to expand their operations in this economy.

Please follow and like us:

, , , , , ,

No comments yet.

Leave a Reply

Enjoying BMO? Please spread the word :)