Video Game Developer Avalanche Studios Takes 15K SF at 1245 Broadway
By Nicholas Rizzi July 13, 2021 4:09 pm
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Video game developer Avalanche Studios Group took 15,000 square feet at 1245 Broadway in NoMad, the landlords announced.
Avalanche Studios signed a five-year lease for space in GDSNY and Klövern’s under-construction, 23-story building at the corner of Broadway and West 31st Street, Real Estate Weekly first reported.
Asking rents in the building range from $120 per square foot in the base to $150 per square foot on the top floors, as Commercial Observer previously reported.
The Stockholm-based Avalanche Studios currently has a New York City outpost at 536 Broadway, which it first moved into in early 2012. It’s unclear if it will relocate that office to 1245 Broadway, but it plans to move into its new digs in the first quarter of 2022.
CBRE (CBRE)’s Paul Amrich and Neil King represented the owners in the deal. It’s unclear who brokered the deal for Avalanche Studios. A spokesperson for CBRE declined to comment.
Klövern and GDSNY are in the process of building a new 23-story, 200,000-square-foot office building at 1245 Broadway, replacing a former parking lot. They’re expected to finish construction by the end of the year.
The developers signed their first lease for the project in February, when celebrity chef Matthew Kenney took 7,900 square feet for a new plant-based eatery.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
