Marketing Company Relocates Five Blocks North to Flatiron District From Union Square
Liam La Guerre Oct. 10, 2016, 4:50 p.m.
Digital marketing company Yotpo signed an 11,666-square-foot lease at 33 West 19th Street to relocate its offices, according to the tenant’s broker, ABS Partners Real Estate.
The Israel-based company, which established offices in Manhattan in January 2015, moved into the entire fifth floor of the building between Fifth Avenue and Avenue of the Americas last month. It replaced tech company Dropbox, which moved to 31,270-square-foot offices at Two Trees Management Company’s 50 West 23rd Street earlier this year, as Commercial Observer previously reported.
While an ABS spokeswoman declined to provide the length of Yotpo’s new deal, she indicated the asking rent was $70 per square foot. The company is moving its 70 Manhattan employees from a 4,600-square-foot space at 37 West 14th Street, which it subleased to digital recruiting firm Jopwell, as The Wall Street Journal first reported.
“These types of assignments that involve subleasing and expanding are often balancing acts and involve many moving parts,” ABS’ Jeff Sharon, who represented Yotpo with colleague Alex Kaskel, said in a statement. “Having developed an expertise in this process, we were able to execute the deal successfully and got Yotpo into their new space while subleasing their former space essentially simultaneously.”
Landlord Panasia Estate was represented in-house. An executive at the company did not return a request for comment.