Equity Office Taps Top Financial Website as Tenant
2 min read
Investopedia inked a deal to occupy an entire floor in Midtown Manhattan, relocating its headquarters a few blocks away from its current location.
By Corina Stef
Equity Office Properties Trust secured a new lease at 114 W. 41st St., one of its prime New York properties. Investopedia, the world’s leading source of online financial content, will occupy the entire eighth floor, which comprises 15,931 square feet. The tenant is expected to finish relocating from its current headquarters at 110 E. 42nd St. by the end of September. Steven Rotter and Dan Santagata of JLL acted on behalf of Investopedia. Zachary Freeman and Scott Silverstein, along with Erik Harris, Scott Klau, Ben Shapiro and Zach Weil of Newmark Grubb Knight Frank, represented the owner.
According to Yardi Matrix data, the Class A, 340,208-square-foot asset was built in 1915, with complete renovations finished in 2015. Refurbished amenities include a double-entranced, 18-foot-high lobby, billiards room, café area, full pantry with bleacher seating and media lounge. It also features state-of-the art finishes, modern designs, a high-density, open layout, 12-foot-high ceilings, polished concrete floor, exposed brick, spacious rooms and plenty of natural light. A fringe benefit is Truebrew Outfitter’s thrice-weekly cold-brew coffee and matcha teas tasting, together with “The Vault”, a tenant amenities center that exhibits iconic New York figures and contemporary Andy Warhol skateboard decks.
The 22-story building is situated right in the heart of Manhattan’s CBD, within walking distance of Bryant Park, Times Square, restaurants, hotels, museums, theaters, landmarks, an outdoor plaza and retailers. Moreover, close proximity to Grand Central Terminal, Penn Station and Port Authority facilitates transportation to and from the property.
“Our objective with our pre-built program was to design innovative, 21st-century workspaces that provide the dynamic setting that today’s top creative and media brands demand,” Scott Silverstein, leasing director with Equity Office, said in a prepared statement. The Blackstone-owned company’s investment strategy includes earning the trust of its tenants, among them VTS, Quartet Health, Roku, SpotCo and Two Forks.
Images courtesy of Equity Office