Leases  ·  Office

Tech-Focused Brokerage Lev Takes 13K SF at 584-588 Broadway


Tech-focused commercial brokerage Lev inked a deal for 12,500 square feet at 584-588 Broadway, Commercial Observer has learned.

The proptech firm signed a lease for space on the fourth floor of Olmstead Properties’ 12-story SoHo building between Houston and Prince streets, according to Lev founder Yaakov Zar. Asking rent was $64 per square foot. Zar declined to provide the length of the lease.

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Lev was founded in 2019 as a platform that combines human commercial real estate expertise and capital with artificial intelligence to allow investors and lenders to customize and quickly build out a capital stack for transactions. The proptech firm facilitated $100 million worth of deals in 2020.

The lease comes soon after Lev closed on a $10 million seed funding round that was backed by JLL Spark, NFX, Canaan Partners and Cross River Bank, along with previous investors Animo Ventures and Ludlow Ventures, as CO previously reported.

Lev was previously headquartered nearby at 595 Broadway and moved to its new digs earlier this month, according to Zar.

Daniel Lolai and Joel Kubie of LSL Advisors represented Lev, while Olmstead handled it in-house. Representatives from LSL and Olmstead did not respond to requests for comment.