Fertility Firm Progyny Inks 25K-SF Lease at 1359 Broadway
Fertility benefits company Progyny is expanding its operations, and nearly doubling its footprint in New York with a new lease, Commercial Observer has learned.
Progyny subleased 25,000 square feet at Empire State Realty Trust’s 1359 Broadway, located between West 36th and West 37th Streets, according to information from Newmark Knight Frank.
NKF’s David Falk and Kyle Ciminelli represented the tenant, and Jared Freede of CBRE represented the sublandlord, communications firm IHS Markit. Asking rents at the building range from mid $60s to the mid $70s, per NKF.
Progyny will occupy the entire second floor of the 22-story property for a nine-year term, and plans to move in this month. “This move enables Progyny to continue its operations seamlessly while it relocates,” said Ciminelli. “We were pleased to be able to help them find a space that helped them achieve their goals.”
The company was founded in 2008 and offers fertility benefits plans for employers and employees. It is relocating from its current location at Thor Equities’ 245 Fifth Avenue, where it occupies 13,000 square feet.
Other tenants in the building include SLCE Architects, apparel maker LF Americas, and analytics company Sisense.
CBRE did not immediately respond to request for confirmation.