Cannabis Software Firm Fyllo to Open First Manhattan Office in Midtown
Chicago-based cannabis software company Fyllo will open its first Manhattan office in 5,371 square feet at 27 West 24th Street this spring, Commercial Observer has learned.
Fyllo, which provides marketing and compliance software for cannabis firms, took part of the seventh floor of MJ Orbach Associates’ Midtown building, said JLL (JLL)’s Joseph Sipala, who brokered the deal for the landlord with colleagues Sam Seiler and Aristotle Proskinitopoulos.
Asking rent was $69 per square foot in the three-year lease, according to a source with knowledge of the deal.
Fyllo wanted to find a Manhattan location fast, and jumped on 27 West 24th because its offices were “new, turnkey [and] delivered fully furnished,” Sipala said.
The software firm first opened shop in New York City in 2020 with an office at 77 Sands Street in Dumbo, Brooklyn, though it may ditch the outer borough space, which is advertised for rent by landlord Olmstead Real Estate.
Fyllo did not immediately respond to a request for comment.
CBRE (CBRE)’s Alex Leopold, Joe Cybulski and Tony Coglianese represented Fyllo in the lease. A spokesperson for CBRE declined to comment.
Other tenants at the 11-story 27 West 24th, between Broadway and Avenue of Americas, include venture capital firm Sofinnova Investments, drug developer Tourmaline Bio and commercial interior designer Zebra.
Celia Young can be reached at firstname.lastname@example.org.