Video Software Company JW Player Snags 12K SF at 530 Seventh Avenue

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Video software and data platform JW Player has inked a deal for 12,044 square feet at 530 Seventh Avenue, Commercial Observer has learned.

The firm snagged part of the 16th floor at the Art Deco office building between West 38th and West 39th streets in a two-year lease, according to a representative for Lee & Associates NYC, who handled the deal for JW Player. 

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Asking rents at the building range from the high $50s to mid-$60s  per square foot, according to Brian Neugeboren, part of the in-house team representing landlord Savitt Partners.

“This is a tenant that has a lot of their staff working remotely,” Neugeboren told CO. “Knowing that that flexibility to grow when people are going to start coming back is a big reason why they chose this building.”

The firm is relocating from its offices at 8 West 38th Street, said CBRE’s Neil King, who with colleagues Paul Amrich, Alexander Golod and Maxwell Tarter represented the landlord along with Neugeboren

JW Player’s deal at the 32-story building closed in mid-November, and the tech company plans to move into the space in January, said Neugeboren.

The building’s amenities, including rooftop cocktail lounge and flexible working space, were two of the reasons JW Player decided to sign on the dotted line, Neugeboren said. Located in the Garment District, the building is also home to financial technology firm Finsight, executive search company H.W. Anderson Consulting and environmental engineering group Carollo Engineers.

“We’re thrilled to have found a space that will provide JW Player with a creative layout in a great building that will continue to feed the company’s innovative environment,” Lee NYC’s Alan Friedman, who represented JW Player along with Woody King, said in a statement. 

Celia Young can be reached at cyoung@commercialobserver.com.