Courtesy of Pace

Aithent, Inc. will be relocating its downtown office to the South Street Seaport District.

The information technology firm, currently operating out of a 1,500 square foot space at 75 Maiden Street, has been searching for a new office for nearly two years.

"Aithent was focused on the Flatiron because that is where many IT businesses are clustered," said Mitchell Waldman of Cogent Realty Advisors and broker for the tenant. "A second choice was the Grand Central Station area because it was convenient commute for key employees."

"Both of these areas were too expensive," continued Mr. Waldman.

The new loft office, located at 19 Fulton Street, came in under budget at $34 per square foot. The historic building was constructed in the mid 1600s as a warehouse for goods shipped to the city from England.

"The loft has a very cool ambience steeped in history," Mr. Waldman explained. Though renovated several times over the years, the building maintains some of its original elements such as its skylights, brick walls, and sawn wood ceilings.

Aithent will occupy a portion of the fourth floor spanning 3,969 square foot.

Additionally, the firm operates two offices in India and the new space will "allow them to accommodate additional full time New York employees as well as visiting employees from the US and India," Mr. Waldman further explained. "The seaport provided a relaxed environment with many restaurants to entertain clients."

Alan Wolpert of Seaport Associates represented the landlord in the transaction.