Retail Platform Leap Relocates to 12K SF at 99 Hudson
Leap took the entire 12,159-square-foot seventh floor of the 17-story building, which was prebuilt and furnished, according to tenant broker Raise. It was previously located at 3,000 square feet at 40 Wooster Street in SoHo.
The terms of the deal were not provided but asking rent in the building ranges from $62 to $80 per square foot, depending on the floor, according to SquareFoot.com.
Jamie Katcher and Sebastian Infante of Raise represented Leap, which said it focused its search on Lower Manhattan since the company wanted to stay in the area. Newmark’s Jonathan Franzel, Michael Shenfeld and Eric Cagner handled it for the landlord, Olshan Properties. Newmark did not respond to a request for comment.
Amish Tolia, co-founder and co-CEO of Leap, said the company needed the bigger space since it expects to add 100 corporate employees in the coming month and is actively scaling its local operations to meet demand. Leap aims to support e-commerce brands in their moves from clicks to bricks by leasing stores for them in clusters on main shopping streets, including Bleecker Street and Madison Avenue in Manhattan and along North Sixth Street in Brooklyn.
Aside from leasing retail space, Leap offers the brands technology to help them with bookkeeping and hires employees who are cross-trained on the e-commerce platform to sell across all the stores.
Other tenants in the nearly 200,000-square-foot 99 Hudson include Daily Harvest and Maiden Home.