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	<title>The Commercial Observer &#187; FirstMarks the Spot: Venture Capital Firm Plants Seed at 100-104 Fifth Avenue </title>
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		<title>The Commercial Observer &#187; FirstMarks the Spot: Venture Capital Firm Plants Seed at 100-104 Fifth Avenue </title>
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		<title>FirstMarks the Spot: Venture Capital Firm Plants Seed at 100-104 Fifth Avenue</title>

		<comments>http://commercialobserver.com/2012/02/firstmarks-the-spot-venture-capital-firm-plants-seed-at-100-104-fifth-avenue/#comments</comments>
		<pubDate>Thu, 23 Feb 2012 15:21:19 -0400</pubDate>
					<link>http://commercialobserver.com/2012/02/firstmarks-the-spot-venture-capital-firm-plants-seed-at-100-104-fifth-avenue/</link>
			<dc:creator>Daniel Edward Rosen</dc:creator>
				
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		<description><![CDATA[<p style="text-align: left;">Venture capital firm <strong>FirstMark Capital</strong> landed in a veritable hornets nest of digital activity after it agreed to a 10-year lease at <strong>100-104</strong> <strong>Fifth Avenue</strong>, a tech-trendy building that already has <strong>Apple</strong> and <strong>Yelp</strong><br />
as one of its many social media tenants.<!--more--></p>
<p><strong> </strong></p>
<p><strong> </strong></p>
<p><strong></p>
<p><div id="attachment_224010" class="wp-caption alignleft" style="width: 410px"><a rel="attachment wp-att-224010" href="http://www.commercialobserver.com/2012/02/firstmarks-the-spot-venture-capital-firm-plants-seed-at-100-104-fifth-avenue/100-fifth-2/"><img class="size-medium wp-image-224010" title="100 fifth" src="http://nyocommercialobserver.files.wordpress.com/2012/02/100-fifth1.jpg?w=400&h=268" alt="" width="400" height="268" /></a><p class="wp-caption-text">Indiana FirstMark and The Temple of Tech (photo courtesy of PropertyShark)</p></div></p>
<p></strong></p>
<p><strong> </strong></p>
<p><strong>FirstMark Capital</strong>, which counts <strong>Pinterest </strong>and<strong> Lumos Labs</strong> among its many seed investments, will be moving out of its 19th floor office on <strong>120 West 45th Street </strong>for <strong>10,600 square feet</strong> in the<strong> Kaufman</strong> <strong>Organization</strong>-owned building. <strong>Bruce Rothman</strong> of <strong>Studley</strong> represented FirstMark Capital in the deal. <strong>Grant Greenspan </strong>represented the Kaufman Organization in-house.</p>
<p>Since buying the pre-war building in January 2011, Kaufman Organization has lured in a steady stream of tech and social media tenants, including <strong>Interactive Partners </strong>and <strong>Net-A-Porter</strong>.</p>
<p>Mr. Greenspan estimates that two-thirds of the <strong>270,000 square feet</strong> at 100-104 Fifth Avenue is being occupied by a digital-themed tenant.</p>
<p>“They want the antiquity, but they also want the modern connectivity,” said Mr. Greenspan, adding that Kaufman has also vastly upgraded the building’s telecommunications capabilities to accomodate these tenants.</p>
<p>It was such improvements to the buildings, and additions to its tenant roster, that attracted FirstMark to the space.</p>
<p>“They sought out the building,” said Mr. Greenspan. Mr. Rothman could not be immediately reached for comment.</p>
<p>The feel of FirstMark’s new office will be “techy,” he added.</p>
<p>“I want to describe it as few offices, large, open-type space with glass conference rooms,” he said. “It’s going to be a very modern type of office space.”</p>
<p>Asking rent in the building is <strong>$55 a square foot</strong>. Kaufman and <strong>Invesco</strong>, the co-owners of the building, are currently embarking on a $9 million capital improvement program to upgrade the building’s lobbies, elevators, and infrastructure.</p>
<p>FirstMark Capital has nearly $2 billion in capital commitments. It did not respond to a request for comment.</p>
<p style="text-align: left;"><em>drosen@observer.com </em></p>
]]></description>
		<content:encoded><![CDATA[<p style="text-align: left;">Venture capital firm <strong>FirstMark Capital</strong> landed in a veritable hornets nest of digital activity after it agreed to a 10-year lease at <strong>100-104</strong> <strong>Fifth Avenue</strong>, a tech-trendy building that already has <strong>Apple</strong> and <strong>Yelp</strong><br />
as one of its many social media tenants.<!--more--></p>
<p><strong> </strong></p>
<p><strong> </strong></p>
<p><strong></p>
<p><div id="attachment_224010" class="wp-caption alignleft" style="width: 410px"><a rel="attachment wp-att-224010" href="http://www.commercialobserver.com/2012/02/firstmarks-the-spot-venture-capital-firm-plants-seed-at-100-104-fifth-avenue/100-fifth-2/"><img class="size-medium wp-image-224010" title="100 fifth" src="http://nyocommercialobserver.files.wordpress.com/2012/02/100-fifth1.jpg?w=400&h=268" alt="" width="400" height="268" /></a><p class="wp-caption-text">Indiana FirstMark and The Temple of Tech (photo courtesy of PropertyShark)</p></div></p>
<p></strong></p>
<p><strong> </strong></p>
<p><strong>FirstMark Capital</strong>, which counts <strong>Pinterest </strong>and<strong> Lumos Labs</strong> among its many seed investments, will be moving out of its 19th floor office on <strong>120 West 45th Street </strong>for <strong>10,600 square feet</strong> in the<strong> Kaufman</strong> <strong>Organization</strong>-owned building. <strong>Bruce Rothman</strong> of <strong>Studley</strong> represented FirstMark Capital in the deal. <strong>Grant Greenspan </strong>represented the Kaufman Organization in-house.</p>
<p>Since buying the pre-war building in January 2011, Kaufman Organization has lured in a steady stream of tech and social media tenants, including <strong>Interactive Partners </strong>and <strong>Net-A-Porter</strong>.</p>
<p>Mr. Greenspan estimates that two-thirds of the <strong>270,000 square feet</strong> at 100-104 Fifth Avenue is being occupied by a digital-themed tenant.</p>
<p>“They want the antiquity, but they also want the modern connectivity,” said Mr. Greenspan, adding that Kaufman has also vastly upgraded the building’s telecommunications capabilities to accomodate these tenants.</p>
<p>It was such improvements to the buildings, and additions to its tenant roster, that attracted FirstMark to the space.</p>
<p>“They sought out the building,” said Mr. Greenspan. Mr. Rothman could not be immediately reached for comment.</p>
<p>The feel of FirstMark’s new office will be “techy,” he added.</p>
<p>“I want to describe it as few offices, large, open-type space with glass conference rooms,” he said. “It’s going to be a very modern type of office space.”</p>
<p>Asking rent in the building is <strong>$55 a square foot</strong>. Kaufman and <strong>Invesco</strong>, the co-owners of the building, are currently embarking on a $9 million capital improvement program to upgrade the building’s lobbies, elevators, and infrastructure.</p>
<p>FirstMark Capital has nearly $2 billion in capital commitments. It did not respond to a request for comment.</p>
<p style="text-align: left;"><em>drosen@observer.com </em></p>
]]></content:encoded>
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