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Deals & Dealmakers

CBRE Arranges 4,743 Sq. Ft. Office Sublease for New Private Equity Firm

 In a transaction arranged by CBRE, Springcoast Capital Partners LP, a private equity firm recently launched by a former Goldman Sachs Group executive and the founder of a family office to invest in growing technology companies, has inked a 4,743 sq. ft. sublease at 860 Washington Street in the heart of Manhattan’s Meatpacking District. Spingcoast Capital will occupy part of the sixth floor of the 117,230 sq. ft. newly constructed, trophy office building owned by Meadow Partners. 

The CBRE team of Neil King and Zac Price represented Springcoast Capital in the lease negotiations with the subtenant. Seth Rosen and Ken Salzman of Lee & Associates acted on behalf of the sublandlord. 

“Springcoast was recently launched with 12 employees and required the type of quality office space that would speak to its high-profile clients and investment services,” said Mr. King. “This sublease opportunity in one of the Meatpacking District’s most premier trophy buildings met our client’s real estate requirements perfectly.”

Founded by Holger Staude, most recently a managing director at Goldman Sachs Growth, and Grant Wentworth, the founder and managing partner of family office Maple Partners LLC, Springcoast Capital is a growth equity firm focused on providing flexible capital to market-leading software and technology-enabled companies.

“Springcoast thanks Neil, Zac and the CBRE team for their exhaustive search and efforts to help our firm find our new home,” Mr. Wentworth said. “We are excited to continue to grow and to partner with world-leading companies and to build our future in a culturally rich part of New York City.”

Designed by the acclaimed James Carpenter Design Associates, 860 Washington is one of the most advanced boutique commercial buildings in the Midtown South office market. The glass to ceiling offices property boasts LEED Silver certification, an advanced raised floor that integrates under-floor air conditioning, as well as telecom and building systems for an entirely open work environment.

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