Tolis Advisors and Inspired Capital Move Into 809 Broadway
By Chava Gourarie July 31, 2019 3:10 pm
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The new asymmetrical building at 809 Broadway near Union Square, formerly the home of pool table maker Blatt Billiards, is filling up with commercial tenants.
Asset manager Tolis Advisors, venture capital firm Inspired Capital, and another unnamed venture capital firm signed full-floor leases at the 15-story building, Commercial Observer has learned.
Inspired Capital took 3,162 square feet, Tolis will occupy 2,508 square feet, and the third company took 3,345 square feet, according to information from Cushman & Wakefield (CWK), which brokered the deals.
Cushman’s Alan Wildes, Charlie Stephens, Ron Lo Russo and Anthony Cugini represented the landlord. Scott Brown of Newmark (NMRK) Knight Frank represented Inspired Capital, while Cushman duo Dan Organ and Brendan O’Leary represented Tolis.
Asking rents were between $135 and $140 per square foot, and lease terms ranged between five and seven years. All three tenants are planning to move into the newly developed building by the end of 2019, per Cushman.
Blatt Billiards sold the property to an investor group led by Ariel Rom, which transformed the five-story manufacturing building into a 15-story mixed use “totem,” as architect ODA Architecture describes it.
The building is majority commercial, with retail on the ground floor, office space through the twelfth floor, and residential units on the top three floors.
Located on the border of Greenwich Village and Noho, the area had not traditionally been a draw for office development, until overflow from Midtown South began to create demand for tech tenants below 14th Street.
