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Tuesday July 22, 2014

Former NY Times HQ Converting to Tech Tower

image: 10gen

The Soho software firm10gen is moving uptown to a building with a basketball court—the former New York Times Building at 229 West 43rd St. According to Crain’s New York Business, company signed a five year lease for about 29,400 square feet. The actual rent wasn’t disclosed but the going rate is somewhere between $70 and $80 per square foot.

10gen, which develops databases for corporations, had subleased 13,000 square feet from Scholastic Corp. at 578 Broadway for the past five years. They wanted to remain downtown, “But due to the scarcity of such space they were forced to look elsewhere,” according to Greg Taubin, a Studley broker who represented the firm. The owner of the former Times building is actively marketing the space to tech tenants. It has high ceilings and open airy floor plans. Equity Office even added tech-friendly perks like a basketball court to attract companies like 10gen.

Crain’s New York Business