10gen is expanding its presence at the former New York Times Building with an additional 20,432 square feet across the 5th floor, bringing its total occupancy to nearly 50,000 square feet.
“When you have the experience advising any type of tenant that is in growth mode it’s imperative to obtain lease flexibility,” said Studley’s Greg Taubin, who represented 10gen, noting that landlord Blackstone Group was keen to recognize the growing company’s potential. “It was very important to find a building with large floor plates, and with the ability to grow contiguously.”
“Midtown South space for tech tenants remains pretty tight and certain tenants are exploring other areas, either Downtown or further up in the Midtown area,” he said. Asking rents on the space were $75 per square foot.
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