Lease Beat

Payvision Grabs 5K at 180 Varick Street

180 banner2 110x150 Payvision Grabs 5K at 180 Varick Street

180 Varick Street

Payvision has inked a new deal for their office in New York.

The Netherlands-based global card processor will move from their office at 40 Walker Street to 180 Varick Street. The company will house their entire New York office in a sublease for Open Road‘s 4,973 square foot office on the eighth floor of the building.

“They needed a handful of offices, open areas, and a bullpen,” explained Elizabeth Juviler, a broker at Rice & Associates. “They also needed flexibility. They’ve been growing quite extensively over the past few years.”

The company outgrew their old space which was considerably smaller, spanning about 1,800 square feet.

“This space had an absolutely perfect layout with the amount of space that they wanted,” she further noted. “They are a technology company, so they have a creative atmosphere and setting. But they also have a financial department, so they have to be professional.”

“[The building has] a beautiful professional lobby, nice management, and that Soho-Hudson Square creative loft aspect,” she added.

Ms. Juviler represented the Payvision in the transaction. Steven Martin of Olmstead Properties represented the sublandlord, Open Road, as well as building management, 180 Varick Street Corp.

Mr. Martin noted that the building remains 98% occupied. Asking rent for the space were set at $49 per square foot.

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