SDC Capital Grabs 10K SF Lease at 817 Broadway

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SDC Capital Partners is heading south to the still-being-renovated 817 Broadway, Commercial Observer can report.

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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 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. 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.”