Oppenheimer Holdings Inc. has entered into a lease agreement for approximately 221,339 rentable square feet of office space at 32 Old Slip in Lower Manhattan. The lease was executed on November 5, 2026, between Viner Finance Inc., a wholly owned subsidiary of Oppenheimer, and RXR 32 Old Slip Owner LLC. The company expects the new location to serve as its principal New York City offices, housing its executive management team, administrative functions, and operations in research, trading, investment banking, and asset management.
The lease has an initial term of approximately 15.5 years, beginning with a rent-free period of at least six months. Fixed annual rent is set at approximately $13.3 million for the first five years following the rent commencement date, increasing to approximately $14.4 million for the next five years, and approximately $15.5 million thereafter. The rent commencement date is the later of six months after the Landlord delivers the final portion of the Premises or July 1, 2028.
The company plans to occupy approximately 220,000 square feet across six full floors of the 36-story building. A phased move-in is targeted to begin in the first quarter of 2028. The firm will partner with Gensler for the design of the space and is represented by JLL in the transaction. The new headquarters will feature a dedicated conference center, expanded hospitality spaces, and modern workplace infrastructure designed to support collaboration and client engagement.
The company expects to incur significant additional capital expenditures for furniture, equipment, and technology, as well as for improvements beyond the scope of the Landlord's work. The lease also includes renewal and expansion rights, as well as an option to terminate the lease with respect to all or a portion of the Premises on the tenth anniversary of the rent commencement date, subject to the payment of a termination fee of up to approximately $24 million.
