The Kaufman Organization has signed a 16,000 s/f lease at 100-104 Fifth Ave. for Knewton, Inc.
Since Kaufman Organization, in partnership with Invesco, acquired the building in late 2010, 100-104 Fifth Ave. has attracted several new digital and creative companies and boasts over 120,000 s/f of new tenants in the building.
Knewton, a New York City technology company, uses an Adaptive Learning Platform to customize educational content to meet the needs of individual students.
In 2011, the firm was named a Technology Pioneer by the World Economic Forum, following in the footsteps of companies like Twitter, Mozilla, and Paypal.
The company is expanding from 19 Union Square West to the eighth floor of 100 -104 Fifth Ave. in June 2012. The space will feature private offices, conference rooms and a 2,000 s/f private roof deck.
“Knewton is a growing digital company who chose 100 – 104 Fifth Ave. to be among the growing roster of new media, technology and creative companies moving into the building,” said Grant Greenspan, principal of the Kaufman Organization.
“This office space is a perfect fit for Knewton. Over the past year, ownership has made many improvements to the building, including new technological upgrades such as state-of-the-art telecommunication amenities and power services, to accommodate the tenants moving here and to attract more tech tenants like Knewton, Apple and Yelp.”
Over the past year, Kaufman Organization has secured over 120,000 s/f of new leases in 100 – 104 Fifth Ave. The building is 95 percent occupied, with approximately 20,000 s/f of space available.
Although the terms of the lease were undisclosed, the asking rent for the space was $55 psf.
Greenspan represented the ownership in the transaction, while Aaron Ellison and Jim Wenk of Jones Lang LaSalle represented the tenant.
The Kaufman Organization also just brokered a five-year, 6,000 s/flease at 104 West 27th St. for Strongmail Systems.
The West Coast online email marketing company is tripling the size of its office space in New York City.
Stephen Benoit and Elliot Warren of Kaufman Organization represented the tenant while Marvin Davis of Davis Realty represented the landlord in the transaction. Asking rent was $36 psf.
“This new address is ideal for the expansion of Strongmail Systems. The full floor loft will provide a great space and location for the company’s growing New York office,” said Benoit.