Tethys Technology Inks 5,100-Square-Foot Deal at 989 Avenue of the Americas
By Billy Gray November 11, 2013 1:17 pmreprints
Tethys Technology, Inc. signed a 5,100-square-foot lease for the entire 19th floor of 989 Avenue of the Americas.
The tenant, a financial software developer, will relocate from its current office at 17 Battery Place North.
Stuart Siegel, Matthew Bergey and Daniel Bodner of CBRE represented Tethys. Joseph Mangiacotti, also of CBRE, represented the landlord. Asking rent was $45 per square foot.
“Tethys was looking at acquiring office space in Midtown to support the growth in its business and was attracted to this loft-like space with windows on all sides,” Mr. Bodner said in a prepared statement. “989 Avenue of the Americas is a great value and the landlord offered to turnkey the space, which was another plus for the tenant.”
The 13-year-old company’s move from the Financial District to the the 20-story, 92,000-square-foot 989 Avenue of the Americas is the latest signal that the Garment District is increasingly welcoming tenants often associated with Midtown South and other tech corridors. Unsurprisingly, the spate of tech and “creative” firms moving into the area has prompted some to call for a name change–Chelsea North? Times Square South?–for the neighborhood. For now though, local landlords and business improvement district members will have to make do with a redesigned logo touting the area.