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Deals & Dealmakers

Technology company doubles New York office space

Outgrowing its current space, Open System Technologies, OST, a national technology recruiting firm, has signed a long-term lease that doubles its New York office space.

The company is moving to 17,000 square feet, or the entire fifth floor at 469 Seventh Avenue between West 35th and West 36th Streets in the first quarter of 2017.

OST will relocate from the 15th floor at 462 Seventh Avenue where they presently occupy 9,750 square feet. The new lease is for 15 years and the asking rent was $59 per square foot.

Benjamin Blumenthal of Norman Bobrow & Company represented the tenant.

Eric Meyer was the in-house representative for the landlord, a partnership between Eric and Martin Meyer and Dan Shavolian of Foremost Real Estate. The joint venture purchased the property from Sitt Asset Management in 2006 for $90.8 million, according to property records.

“We are thrilled to have diverse and successful companies like OST in a Meyer Equities property and happy to conclude another deal in this dynamic market,” said Eric Meyer of Meyer Equities.

OST is one of the largest privately owned technology staffing firms in the United States serving the financial services, medical, accounting and government sectors.

Tenants at the 17-story, 267,000- square-foot building include the City of New York, the Metropolitan Transportation Authority and Severud Associates.

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