HelloFresh Greeting Madison Square Park Area With 22K-SF Office
Terence Cullen Nov. 30, 2016, 5:30 p.m.
HelloFresh, the Berlin-based food kit service, has inked a deal for a two-floor office at 40 West 25th Street in Midtown South.
The company will take 22,000 square feet at the 135,000-square-foot building between Broadway and Avenue of the Americas, according to a press release from the tenant’s broker, Savills Studley.
Asking rent in the 10-year deal was in the high-$60s per square foot, the release indicates. It wasn’t immediately clear if this was a new office or a relocation for the German company.
“The area surrounding 40 West 25th Street is arguably Manhattan’s hippest neighborhood,” Joseph Genovesi of Savills Studley said in prepared remarks. “The outstanding amenities, convenient access to transportation and easy access to Madison Square Park making it an ideal spot for a growing creative company like HelloFresh.”
He added that the five-year-old company, which ships its customers ingredients to cook their own meals, will have a customized kitchen in the space.
Genovesi and colleague John Harte represented the tenant, while Paul Kotcher and Jordan Plesser of Brickman represented landlord Unizo Holdings Company. Kotcher declined to comment.
Reed Krakoff, a former designer for Coach, signed a deal in December 2013 to occupy 26,470 square feet at the building, as Commercial Observer reported at the time. Wasserman Media Group leases approximately 22,500 square feet at 40 West 25th Street, but last week announced it would relocate to Empire Stores in the Dumbo section of Brooklyn.