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Residential

Compass moving to bigger midtown home

Compass will launch a new state-of-the art office in Midtown Manhattan at 10 East 53rd Street.

The company will shift its current Midtown operation at Lever House to a new 17,000 s/f space across two floors of the office building owned by SL Green Realty Corp.  Julian Berkley will continue to serve as sales manager for the midtown office.

Lever House
Lever House

“The move to a bigger Midtown office exemplifies an exciting year of growth for the company. Compass now operates in 24 offices across nine luxury markets nationwide bolstered by a coast-to-coast new development arm,” said Compass COO David Snider.

“We look forward to continuing to provide unmatched support, technology resources, and marketing capabilities to our agents and their clients.”

Since launching three years ago, Compass has grown to more than 380 agents, and more than 900 agents nationwide representing approximately $8 billion in annual sales.

The company began its national expansion last year opening locations in Washington DC, Boston, Miami, The Hamptons, Los Angeles, Santa Barbara, and Aspen. Last week, the firm launched operations in San Francisco.

In total, Compass has raised $210 million in investor funding from key investors including Wellington Management, Institutional Venture Partners, Thrive Capital, Founders Fund, 406 Ventures, Advance Publications, Inc., Kenneth Chenault, CEO of American Express and Marc Benioff, Founder and CEO of Salesforce.com.

JLL brokers Paul N. Glickman and Alexander Chudnoff, vice chairmen; Cynthia Wasserberger, managing director; Diana Biasotti, senior vice president; and Benjamin Bass, vice president, represented SL Green in the lease.

Compass was represented by Mark Mandell, executive vice president, and Ethan Silverstein, senior director, with Cushman & Wakefield Inc.

SL Green recently completed a multimillion-dollar, building-wide redevelopment of 10 East 53rd Street
Compass signed a 10-year lease and will occupy the 16th floor and 17th floor at the Wired Certified Gold property.

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