OnDeck Expands HQ by 79,000 SF
Sara Pepitone March 11, 2015, 5:10 p.m.
OnDeck Capital, a small business lender, expanded its 1400 Broadway headquarters by about 79,000 square feet, the New York Post reported.
OnDeck will grow within the property from about 38,000 square feet to a total occupancy of roughly 117,000 square feet. The company currently occupies the entire 25th floor and part of the 24th floor of the property. The new space includes the remainder of the 24th floor, the entire 12th floor, the entire 23rd floor and part of the 22nd floor.
“We are delighted that our existing relationship with OnDeck gave us the opportunity to accommodate their significant expansion at 1400 Broadway,” said Thomas P. Durels of Empire State Realty Trust, in a prepared statement.
OnDeck first came to 1400 Broadway in 2012, occupying roughly 21,000 square feet on the 25th floor.
Paul Ippolito of Newmark Grubb Knight Frank represented OnDeck in the deal. Keith A. Cody of ESRT, along with Scott Klau, Erik Harris and Neil Rubin of Newmark Grubb Knight Frank represented the landlord. NGKF was unable to comment.
Asking rents are mid $50s to mid $60s per square foot.
Commercial Observer profiled the building earlier this year.