Leases  ·  Office

Software Company Black Mountain Systems Relocating to Larger Digs Within Midtown


Black Mountain Systems, a software company that develops innovative, tailored solutions for data aggregation, process management and business reporting, has grown out of its current space and is moving to larger offices within Midtown, Commercial Observer has learned.

The company has signed a 13,712-square-foot lease on the entire 36th floor at 1407 Broadway between West 38th and West 39th Streets, a source with knowledge of the deal said. It will move in August from 8,000 square feet at 200 West 41st Street between Seventh and Eighth Avenues.

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The lease is for seven years with the option to grow, and the asking rent was $73 per square foot, the source said. The 36th floor has been vacant for some time.

JLL (JLL)’s Brett Harvey and C.J. Heitner represented Black Mountain Systems in the deal and JLL’s Peter Turchin, Gregg Rothkin, Ben Fastenberg and Brett Shannon worked on behalf of the landlord, Shorenstein Properties. A JLL spokesman didn’t respond to a request for comment.

Shorenstein purchased a 34-year master lease for the 1.1-million-square-foot tower at 1407 Broadway in April 2015 for $330 million from Abraham Kamber & Company and Lightstone, as Commercial Observer previously reported. (Solil Management owns the ground under the property.)

Tenants include late Vince Camuto’s apparel and accessories company VCS Group in 42,748 square feet, and cable provider Comcast in a 100,000-square-foot space.