ATCO Properties & Management announced that Simplebet, a global sports betting technology company, will relocate its New York City headquarters to 373 Park Avenue South in the Flatiron District.
The new lease encompasses 8,732 s/f across the entire 9th floor of the boutique 12-story, 110,000 s/f building, which is located on the southeast corner between East 26th and 27th Streets.
Simplebet, which develops sports betting software that utilizes machine learning and automation, is expected to move from its current One Penn Plaza location to 373 Park Avenue South in August 2021.
Co-founded in 2018 by Chris Bevilacqua, Joey Levy, and Scott Marshall, Simplebet has pioneered micro-betting products for the NFL, NBA, and MLB and works with industry leaders including FanDuel and INTRALOT.
“We are pleased to welcome Simplebet to 373 Park Avenue South, which has proven to be highly appealing to a wide variety of technology and media tenants who are seeking spaces that combine the history and beauty of old New York with modern features,” said Kate Hemmerdinger Goodman, co-president at ATCO Properties & Management.
“We look forward to our new headquarters in the heart of New York City,” said Simplebet CEO, Chris Bevilacqua. “As the driving force behind micro-betting, we are redefining the intersection of sports betting, media and technology and are excited to continue innovating in our new space.”
Jamie Katcher and Sebastian Infante of Cushman & Wakefield represented Simplebet in the transaction, while William Carr and John Cinosky of Atco Brokerage Services represented the landlord.
Built in the early 1900s, 373 Park Avenue South benefits from a prime location near Madison Square Park, restaurants, and multiple subway lines. Major tenants at the property include LaunchSquad, Neuehouse, Advanced Focus, and Lifetime Brands Inc. Retail tenants include Mexican restaurant Dos Caminos.