Handler Real Estate Organization arranged a long-term, 15,000 s/f relocation and expansion at 116 West 32nd Street on behalf of Octane Lending, a fintech startup.
Octane Lending — which provides a point of sale finance marketplace to assist dealerships in helping their customers obtain financing will occupy the entire 9th floor at 116 West 32nd Street later this year.
The company is relocating into a larger, modern, pre-built space that is centrally located to accommodate its current and future growth, noted Handler Real Estate Organization principal & CEO Scott Galin.
The tenant was represented by Alex Bush of Handler Real Estate Organization.
Bush said Octane Lending was attracted to the creative, high-end space with raised ceilings, polished concrete floors, windows on four sides and new modern lighting. The space is mostly open with a full kitchen, phone booths, board rooms, and a mixture of glass-front offices and team rooms, while the lobby and elevators have been completely renovated.
Owned and operated by Pan Am Equities, the 16-story, 245,000 s/f office building at 116 West 32nd Street is located between 6th and 7th Avenues a half block from Penn Station.
Josh Pernice, Freddie Fackelmayer, and Rob Hill, with CBRE, represented ownership in-house on the transaction.