Nonprofit Signs Flatiron District Lease [Updated]
Tobias Salinger Sept. 29, 2014, 11:28 a.m.
Science and mathematics education nonprofit Math for America will move its headquarters 500 feet west to ABS Partners Real Estate‘s 915 Broadway on the corner of 21st Street in the Flatiron District through a 11-year, 21,536-square-foot lease, ABS Partners announced this morning.
The nonprofit that assists educators and institutions will relocate from 160 Fifth Avenue to a space on the 16th and 17th floors of ABS Partners’ 20-story building with asking rents of $80 per square foot, company officials said.
“We are delighted to bring such a prestigious tenant into the fold at 915 Broadway,” said Alex Kaskel, a director at ABS Partners, in a prepared statement. “The relocation is a testament to the painstaking attention to detail we pay to every aspect of building and tenant care. This includes recent building upgrades featuring work from three different architecture firms – GKV Architects, Javier Delagarza Architecture and Specter Desouza – that resulted in a complete redesign of the building’s front and back lobbies, common corridors, shared restrooms, and select tenant spaces.”
Mr. Kaskel and his ABS colleagues James Caseley and Carol Sacks represented ownership in-house in the deal, while Tracy Johnson and Peter Hennessey of Cassidy Turley negotiated on behalf of Math for America, which will be expanding its footprint by 30 percent in the beginning of 2015 through the deal, Mr. Hennessey said.
“The two contiguous floors and close proximity to their current location made 915 Broadway an extremely attractive choice for Math for America,” Mr. Hennessey wrote in an email.
The new lease fills the building, except for an 8,000-square-foot flagship retail space and a 3,800-square-foot mezzanine space, according to the company’s release.
Officials with Cassidy Turley didn’t immediately respond to a request for comment.
Update: This story has been updated with additional information and a quote from Peter Hennessey of Cassidy Turley.