First Investors expands and relocates to 40 Wall Street through Studley

As Lower Manhattan continues to rebound from Hurricane Sandy, a leading financial services company has found "shelter from the storm" in a new office building. First Investors Management Company, Inc. has signed a 15-year lease for the entire 10th floor at the Trump Organization's 40 Wall Street for its new corporate headquarters, in a transaction brokered by commercial real estate services firm Studley. It is anticipated, that the firm will relocate to its new location in the Fall. Studley's executive managing director Marc Shapses, corporate managing director Jason Schwartzenberg and executive managing director Joseph Messina represented First Investors on the long-term leasing transaction, while Jeffrey Lichtenberg and Jared Horowitz at Cushman & Wakefield represented the landlord. According to Shapses, First Investors needed a "quick and smart long-term solution" after their existing building was heavily damaged due to excessive flooding caused by Superstorm Sandy. "The Trump Organization was very compassionate to tenants affected by the storm and we worked out deal terms in a very timely manner," he said. Constructed in 1930 as the Bank of Manhattan Trust Building, the iconic downtown property is 91% occupied by other financial and professional services tenants including Haks Engineers, the Harry Fox Agency, Green Ivy Schools and several others. First Investors, which was acquired by Toronto-based Foresters in 2011, provides a wide array of financial products and services including mutual funds, annuities and life insurance. The company currently has more than 550 financial service representatives in offices across 26 states.