Online real estate database Zillow will upgrade its New York office to a 130,000 s/f property in NoMad neighborhood.
NoMad Tower, located on 1250 Broadway, will be host to the company’s New York base of operations marking a major signing for the Tower which was purchased by Global Holdings Management Group for $565 million in 2016.
“Global Holdings is excited to launch our repositioning of Nomad Tower with the signing of a lease with Zillow,” said a company spokesperson for Global Holdings.
“Zillow’s commitment is a testament to the quality of our renovation, which is well under way, and to the amenities we’re bringing to the building.”
Information on Zillow’s new rent price was not immediately available, but according to Global Holdings, prices in NoMad Tower range from $78 to $89 per square foot.
Zillow will occupy five floors in the tower, increasing its square footage by nearly 2.5 times the amount of its previous location located in Manhattan’s Flatiron District.
The company said it plans to move into the newly leasing space by 2020 and that the location will also act as a headquarters for its New York City brands StreetEasy, Out Eat, and Naked Apartments.
“Our New York employees commute from all different parts of the city, New Jersey, and upstate. It was incredibly important for us to find a building that married both a central location with the flexibility to create a truly unique, tech-forward space for our growing [New York City] office,” said Matt Gibson, Zillow Group’s VP of Facilities & Corporate Real Estate.
“We’re excited to partner with NoMad Tower to build a new space for our employees that fosters our collaborative culture.”
In all, Nomad Tower spans 39 stories, 412,000 square feet – with 280,000 still available – and has undergone major renovations throughout the last two years which include the addition of a new lobby, a two-story amphitheater which seats up to 100 people, a fitness, bike room, game room, and lounge.
“NoMad Tower is the most significant high-rise, glass and steel office tower in NoMad, one of New York City’s fastest growing and most vibrant neighborhoods,” said Vice Chairman of JLL, Paul Glickman, who represented NoMad Tower. “We are excited to have Zillow Group in the building as our first major lease.”