Trio of Tenants Sign New Deals at 530 Seventh Avenue

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An advertising company, a venture capital firm and a healthcare industry consultant have signed new leases at 530 Seventh Avenue in the Garment District, according to landlord Savitt Partners

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Asking rent in all three transactions was $68 per square foot. 

The largest of the three new deals was with Precision Xtract, a healthcare consultancy that employs scientists, academics, pharmaceutical executives and economists. The company inked a 12,044-square-foot, four-year sublease on the 16th floor of the 30-story building between West 38th and West 39th Streets. 

Stephen Bellwood and Gordon Hough of Cushman & Wakefield represented Precision Xtract in the deal, and Dan Lolai and Joel Kubie of LSL Advisors handled the negotiations on behalf of the sublandlord, Kustomer

Angel investor group 10X Ventures also signed a seven-year, 11,700-square-foot sublease with sublandlord Unger Fabrik on the 23rd floor. 

Travis Egenberg and Josh Berger of Norman Bobrow represented 10X in the negotiations, while Marc Kritzer and Edmond Hui of Elite Realty represented the sublandlord. 

Finally, boutique ad firm Fred and Farid renewed its 5,850-square-foot footprint on the 30th floor for three years. 

Ross Perlman and Ryan Gessin of Newmark Knight Frank represented Fred and Farid in the deal.

Savitt PartnersBrian Neugeboren and Nicole Goetz represented the ownership in-house for all of the leases. 

Savitt has recently repositioned the 490,000-square-foot, Art Deco office building, with an aim at creating a hipper office option for tech and media tenants. The landlord spent $11 million to create a rooftop cocktail lounge, The Skylark, and a coworking space dubbed “Space530.”

“With the evolution of Fashion District into a full-service neighborhood with numerous dining spots and retail destinations, we have worked diligently to make 530 Seventh Avenue the epicenter of the changes taking shape in the neighborhood by attracting TAMI and office users looking for high-quality space,” Neugeboren said in a statement.