VC Capital Firm Inspired Capital Expanding to 10K SF at 817 Broadway
By Nicholas Rizzi February 23, 2023 5:05 pmreprints
Venture capital firm Inspired Capital is moving down a floor but up in size at 817 Broadway, Commercial Observer has learned.
Inspired signed a 10-year lease for 9,943 square feet on the entire eighth floor of the 14-story Greenwich Village building between East 11th and East 12th streets, according to a source with knowledge of the deal. Asking rent was $115 per square foot.
The firm currently has about 6,000 square feet on part of the ninth floor, but that space won’t be empty for long. Private equity firm SDC Capital Partners already took 1,610 square feet of Inspired’s old space, adding to the 9,943 square feet it already occupied on the 10th floor, according to the source.
Inspired was founded by Alexa von Tobel and Penny Pritzker in 2019 to focus on investing in early-stage companies and has raised nearly $500 million since its debut, TechCrunch reported. It originally leased 3,162 square feet at 809 Broadway in 2019 but moved to 817 Broadway in 2020, the source said.
Taconic Partners, Nuveen Real Estate and Squire Investments’ 140,000-square-foot 817 Broadway has become a hub for venture capital firms in the city after the landlords redeveloped it in 2019 with Union Square Ventures, 25madison and Avenir all relocating to the building in the past few years.
Newmark’s David Falk, Jason Greenstein, Daniel Levine and Jordyn Comras represented the landlords in the deal while Inspired had no brokers.
Spokespeople for Nuveen, Taconic and Inspired did not immediately respond to requests for comment. Newmark declined to comment.
Nicholas Rizzi can be reached at firstname.lastname@example.org.