CompStak Leases 27K SF at 675 Avenue of the Americas
By Mark Hallum December 20, 2022 1:07 pmreprints
Commercial real estate data firm CompStak is taking a bigger space in Manhattan as it increases its headcount.
The company signed a five-year lease to relocate its global headquarters to 25,644 square feet at 675 Avenue of the Americas, The Real Deal first reported.
CompStak will relocate from its current headquarters — about 12,000 square feet at 36 Cooper Square — to occupy the space formerly leased by Quartz Media, according to landlord GFP Real Estate.
GFP declined to disclose the asking rent.
“We’ve increased our office footprint to ensure that we have everything we need for our team to feel comfortable at work as we grow,” Michael Mandel, CompStak’s CEO, said in a statement. “I feel strongly that if CompStak is going to expect our team to be back in the office, we have to make the office a place where they want to be. The move to 675 Avenue of the Americas does all of this for us.”
CompStak — which has offices in Los Angeles, Chicago, Atlanta and Belgrade, Serbia — has grown over the last year to have 170 employees internationally.
Jeffrey Gural represented GFP in-house along with Anthony Sciacca, Brittany Silver, Robert Silver and Jamie Jacobs of Newmark, while Todd Hershman, also from Newmark, negotiated on behalf of CompStak.
Newmark did not immediately respond to a request for comment.
“CompStak bucked the trend of going fully remote once the worst of the pandemic was over, a decision I think paid off as the company continues to hire and grow, even in this tough economic environment,” Gural said in a statement.
Built in 1901 as an industrial building for Adams Dry Goods, 675 Avenue of the Americas sits between West 21st and West 22nd streets. The average floor plate spans 50,000 square feet, meaning CompStak will likely occupy half a floor.
In August, arts and crafts store Michaels renewed its 32,000-square-foot storefront on the ground floor of the building.
Mark Hallum can be reached at email@example.com.