Case Study Handel Architects
Space 26,000 sq ft
Type Architecture Firm
Location 120 Broadway
When we first worked with Handel Architects a decade ago and moved them to Hudson Square, they were seen as a pioneers. Ten years later, rents on Varick Street have tripled and Hudson Square has emerged as a hot spot. Handel brought us back to help find more space while at the same time controlling their costs. They were willing to relocate to a different area of the city if they could double the size of their space and save substantially on price. By moving to the financial district, they were once again pioneers, in the forefront of non-financial companies making their home where banks and law firms once ruled.
As a well-known architecture firm that builds iconic buildings around the world, Handel Architects needed space worthy of its brand. As a long time tenant on Varick St. in Hudson Square, they had just the kind of space they wanted with an abundance of natural light and high ceilings in a premiere loft-like building.
When we moved them to Varick St. ten years ago, Handel Architects was a pioneer in capitalizing on Hudson Square’s ‘cool’ factor. Unfortunately, features in Vogue did little to keep this a secret, and rents had risen to a premium to match its hot-spot status.
As Handel and Vicus evaluated their space needs—now much larger to match a high-growth footprint—we took into account these premium prices, and the fact that their current building did not have large enough space available.
120 Broadway was the pinnacle of these obstacles. Built in 1915, 120 Broadway was the largest building in the world when completed and boasts a grand lobby with soaring ceiling heights and 50,000 square-foot floor plates. The available 6th floor had 13-foot ceilings and massive windows, making this the perfect sun-flooded home for Handel at a palatable price.
The current floor plan matched an aesthetic embraced by more traditional businesses, but the bones of this space worked well. Handel broke rank from this aesthetic and molded the space as they saw fit; the end result was an open floor plan with exposed high ceilings and the loft-like feel that they desired, at half the cost to stay in Hudson Square.