Fintech Firm Fora Financial Consolidates in Garment District
By Lois Weiss May 23, 2022 4:38 pmreprints
Fintech firm Fora Financial is consolidating its offices to 1385 Broadway, where it has signed a nine-year lease for the entire 15th floor spanning 23,500 square feet.
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.