Zillow More Than Doubling Size of Digs With Relocation to 130K SF in Koreatown
By Nicholas Rizzi October 24, 2018 4:49 pm
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Real estate tech company Zillow Group—which owns websites StreetEasy and Naked Apartments—will relocate its New York City headquarters to 130,000 square feet in Koreatown, the parent company announced.
Seattle-based Zillow signed an 11-year deal to take over the eighth to the 12th floor of Global Holdings Management Group’s 1250 Broadway between West 31st and West 32nd Streets, The Real Deal first reported. Asking rents in the building, also known as NoMad Tower, range from $78 to $89 per square foot, a spokesman for the landlord said.
Zillow will relocate from 53,000 square feet at 130 Fifth Avenue between West 18th and West 19th Streets in the beginning of next year and its new digs give it space to add another 1,000 employees in New York, according to a press release.
“Our New York employees commute from all different parts of the city, New Jersey and upstate,” Matt Gibson, the vice president of facilities and corporate real estate for Zillow, said in a statement. “It was incredibly important for us to find a building that married both a central location with the flexibility to create a truly unique, tech-forward space for our growing New York City office.”
Paul Glickman, Mitchell Konsker, Diana Biasotti, Benjamin Bass and Harley Dalton of JLL (JLL) represented the landlord in the deal while Cushman & Wakefield (CWK)’s Ed Wartels and Justin Halpern handled it for Zillow. A spokesman for C&W declined to comment.
“NoMad Tower is the most significant high-rise, glass and steel office tower in NoMad, one of New York City’s fastest growing and most vibrant neighborhoods,” Glickman said in a statement. “We are excited to have Zillow Group in the building as our first major lease.”
Eyal Ofer’s Global Holdings bought the 39-story 1250 Broadway in 2016 for $565 million from Jamestown. It renamed it NoMad Tower and started an $80 million capital improvement program last year that relocated the lobby and will add a two-story amphitheater and amenity center with a game room and a gym.
