Digital Billing Service Transactis Grows by More Than 9K SF at 1250 Bway in Koreatown
Transactis is taking a 15,356-square-foot floor at the Koreatown building where it has been based for five years. The digital billing service will relocate from 6,000 square feet on the 37th floor of the office building at 1250 Broadway to the entire 34th floor late in the second quarter of 2017, JLL has informed Commercial Observer.
The deal at the 39-story, 773,000-square-foot building between West 31st and West 32nd Streets is for 10 years, according to information provided by the brokerage, which declined to cite the asking rent. But, a source told CO that the asking rent in the tower portion of the building, where Transacts is headed, is in the low-$90s per square foot.
Paul N. Glickman, Mitchell Konsker, Diana Biasotti, Benjamin Bass and Harley Dalton represented the landlord, Global Holdings, in the transaction. The tenant was represented in-house.
“Transactis was able to secure a full floor with panoramic views of the city in an amenity-filled tower in a dynamic neighborhood,” Glickman said in a statement. “Global Holdings’ repositioning of the building will deliver a remarkable experience to tenants, who will benefit from a new lobby, tenant amenity center and infrastructure while also enjoying area restaurants, entertainment options and transportation access.”
In November 2016, Global Holdings acquired the property from Jamestown for $565 million, and renamed it NoMad Tower. The building is undergoing an $80 million capital improvement program and repositioning effort. Next year, the owner will recapture 435,000 square feet of contiguous space when healthcare organization Visiting Nurse Service of New York departs for 220 East 42nd Street.