Techstars, a startup accelerator with programs in seven cities in the U.S. and U.K., will move its New York City program to 1407 Broadway.
The 1.1 million-square-foot building, owned by The Lightstone Group in partnership with Lightstone Value Plus REIT, Inc. (LVPR), is being repositioned towards the technology, media and creative industries, which are currently experiencing explosive growth and moving north of Chelsea and the Flatiron markets.
Techstars signed a lease for 13,719 s/f, taking the building’s entire 24th floor. The company will relocate from smaller offices at 36 Copper Street into a space with a full-floor presence.
“The current renovations, the new creative vibe, the unparalleled central location, as well as the light and views from the tower floors, made 1407 Broadway a perfect home for Techstars,” said Peter Turchin, executive vice president of CBRE.
Turchin is the exclusive leasing agent for 1407 Broadway, along with colleagues Gregg Rothkin, Amanda Bokman, Ben Fastenberg, Ross Zimbalist and Lee Cross. Zimbalist also represented Techstars in the transaction.
“Having Techstars at 1407 Broadway shows the tech community that we are serious about providing them with what they need,” said Mitchell Hochberg, president of The Lightstone Group.
“It’s the first of a steady stream of tech companies that are coming to our site.”
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