Fintech Firm Fora Financial Consolidates in Garment District
Fora will relocate in July from nearby 519 Eighth Avenue between West 35th and West 36th streets, where it has had a presence since 2015.
Andrew Gutman, president of Fora Financial, said in a statement the Broadway building “ticked all of the key boxes.” The full-floor footprint allows the company to consolidate its city headquarters onto a single floor while the high-end space is being customized and built to its needs.
Justin Halpern, Jennifer Konefsky and Edward Wartels of Cushman & Wakefield represented the tenant in the deal.
Owned by Savitt Partners, the 23-story, 500,000-square-foot office tower is on the southwest corner of West 38th Street in the Garment District. It recently underwent a significant capital improvement and modernization program, including a new lobby, elevators and windows.
Nicole Goetz, Brian Neugeboren and Bob Savitt at Savitt Partners represented the ownership in-house in the lease, which had an asking rent of $56 per foot.
The movement of fintech companies to the area is what Neugeboren called a “huge trend that we’ve been seeing over the last few months.”
Since launching in 2008, Fora has provided over $2.1 billion for business loans and revenue-based capital funding for small businesses with fast approvals, flexible rates and online tools for tracking through its proprietary software.