Private Equity Firm Stripes Moving to 14K SF at Solar Carve Tower
By Nicholas Rizzi October 14, 2021 12:22 pm
reprints
Private equity and venture capital firm Stripes will relocate and expand to 14,000 square feet at the Solar Carve Tower in the Meatpacking District, Commercial Observer has learned.
Stripes signed a 10-year lease for space on the entire fifth floor of the Studio Gang-designed building at 40 10th Avenue between West 13th and West 14th streets, according to a source with knowledge of the deal. Asking rent was $160 per square foot.
The firm was founded as Stripes Group in 2008 by Ken Fox and currently has its offices nearby in the Meatpacking District at 402 West 13th Street. Its investments include software developer Monday.com and food company Califia Farms.
Stripes plans to move into its new digs in summer 2022, the source said. The 160,000-square-foot, 10-story building was developed by Aurora Capital Associates and William Gottlieb Real Estate, and completed in 2019. The glass tower, which overlooks the High Line, is known for its prism-like curtain wall that doesn’t cast shadows.
Newmark’s Brian Goldman and Mattew Lorberbaum brokered the deal for Stripes while Howard Hersch, Brett Harvey and Sam Seiler of JLL represented the landlords. A spokesperson for Newmark declined to comment and a representative for JLL did not immediately respond to a request for comment.
Other tenants in the Solar Carve Tower include Barry Sternlicht’s Starwood Capital Group, hedge fund RTW Investments and Genesis Motors, the luxury division of Hyundai Motor Company that has a 40,000-square-foot showroom on the ground floor.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
