Education Tech Company Expands in Flatiron District
By Lauren Elkies Schram October 31, 2014 11:33 am
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Knewton education technology company has expanded by 14,700 square feet to 31,000 square feet in the Flatiron District, the New York Post reported.
The education company, which personalizes digital courses, already occupied the entire eighth floor in the Clarion Partners (CPREX) building at 100-104 Fifth Avenue between West 15th and West 16th Streets. The firm will now also have 10,500 feet on the seventh floor as well as 4,200 feet on the 20th floor, the latter which has an outdoor terrace.
Rents are between the $80s and $90s per foot, the paper said.
Earlier this year, ratings and website Yelp signed a 10-year, 10,500 square-foot lease at the 17-story, 270,000-square-foot building. Over the past three years, Yelp has signed a total of three leases in the building and now occupies over 70,000 square feet of space, according to a press release from Clarion.
Clarion, a real estate investment manager, spent $7.5 million on the recent renovation of the lobbies, elevators, infrastructure and newly incorporated fire safety system at 100-104 Fifth Avenue. In addition, Clarion paid $7 million for tenant improvements associated with newly leased spaces.
Jim Wenk of JLL represented Knewton and Grant Greenspan of the Kaufman Organization represented Clarion Partners.
