Fintech Firm Cadre Leases 17K SF at 315 Park Avenue South
By Mark Hallum May 3, 2022 10:17 am
reprints
There’s a new cadre of fintech professionals renting from Columbia Property Trust.
Real estate investment platform Cadre just signed a lease for 17,050 square feet at 315 Park Avenue South in Midtown South for a term of 10 years, Commercial Observer has learned.
The firm will move its headquarters from the Puck Building at 295 Lafayette Street to the Park Avenue building in the fall, according to the landlord. The building was acquired by Columbia in 2015 and was recently renovated.
“We have continued to experience strong demand from prominent financial, tech and creative brands that understand the importance of providing their teams with a premium workplace environment in the heart of a vibrant neighborhood,” Columbia Property Trust Executive Vice President Dave Cheikin said in a statement.
Cadre will take the entire seventh floor, joining financial data platform PitchBook, cryptocurrency exchange Gemini Trust and Amazon’s interactive streaming service Twitch as tenants in the 20-story building.
“Our mission at Cadre is to make commercial real estate more accessible to more individuals, and, coming off our strongest quarter to date, Cadre requires a flagship office that can accommodate the pace and expansion of our business as we begin a new chapter of growth,” Cadre founder and CEO Ryan Williams said in a statement. “As evidenced by our most recent property sales, we are convinced that strong partners are critical to every successful investment.”
Steven Rotter and Justin Haber of JLL (JLL) represented Cadre in the deal. Representatives for Columbia and asking rents in the space were not immediately disclosed. Columbia was represented by Peter Shimkin, David Falk and Jonathan Fanuzzi of Newmark in the transaction.
The 1911 building’s renovations have been executed with the health of occupants in mind as the pandemic has changed the expectations of tenants across the board, earning it ENERGY STAR, Fitwel, LEED Gold and WiredScore Platinum certifications in 2021.
The building serves as Columbia Property Trust’s headquarters as well.
Mark Hallum can be reached at mhallum@commercialobserver.com.
