SDC Capital Grabs 10K SF Lease at 817 Broadway
SDC Capital Partners is heading south to the still-being-renovated 817 Broadway, Commercial Observer can report.
The private equity firm—which invests in IT and communications infrastructure—has taken the entire 10th floor, or 9,980 square feet, of the Taconic Investment Partners and Nuveen Real Estate-owned building.
SDC is expected to move from its current location at 3 East 28th Street by the end of the year. The company did not immediately return CO’s request for a comment. The asking rent was $105 per square foot, and a source close to the deal said that final price was “in the triple digits.”
Newmark (NMRK) Knight Frank’s David Falk, Jason Greenstein and Daniel Levine represented the landlords in the deal; SDC was represented by Stephen Eynon and Joe Cybulski of CBRE (CBRE). NKF declined to comment on the specifics of the deal; a CBRE spokeswoman declined to comment.
The property—which sits on the corner of East 12th Street—was built in 1895 and is currently in the midst of a massive renovation. “I think it’s the finest renovation in the Park Avenue South / Union Square submarket,” said Paul Pariser, co-Chief Executive Officer at Taconic, about the building. “The skin is remarkable; we gutted it and it’s a new building inside. That was a labor of love. And tenants seem to like it, which is good.”
