Unusual pricing upends market
March 1, 2014

Glass, Lewis & Co.

While some tech firms are heading across the river, others continue the march to Lower Manhattan.

San Francisco-based tech teaching institute Dev Bootcamp signed a short-term sublease for a 14,200 square foot space in Swig Equities’ 48 Wall Street, data from leasing database CompStak revealed. The programming school, which also has a school in Chicago, was founded in 2012 and is growing quickly.

A Lee & Associates team of Dennis Someck, Mitchell Kunikoff and Justin Myers represented Dev Bootcamp in the lease signed in early 2014 with an asking rent of $35 per foot. The group had a tight deadline to find space for the school, which is slated to open later this month.

They focused their search in Lower Manhattan not only because of the lower rents, but also because of its growth as a tech center, Someck said.

“We did not have time for a big build out, and this really fit the bill,” Someck said.

Dev Bootcamp took space currently occupied by shareholder governance analysis firm Glass, Lewis & Co., which is moving to 44 Wall Street, CompStak reported. Glass, Lewis did not respond to requests for comment. Studley brokers Greg Taubin and Gabe Marans represented the firm.

Unusual pricing upends market

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