Leases  ·  Office

Tech Firms Synthesia and TaxBit to Open Offices in NoMad

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Two tech companies are headed to NoMad.

Synthesia, a computer-generated video creator backed by “Shark Tank” investor Mark Cuban, and cryptocurrency accounting platform TaxBit will move to The Moinian Group’s 245 Fifth Avenue.

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In the larger deal, Synthesia signed a five-year lease to relocate from 111 East 14th Street to 6,490 square feet on the 16th floor of 245 Fifth, according to Theodore Koltis, Moinian’s executive vice president. Asking rent was $70 per square foot, said Koltis.

United Kingdom-based Synthesia plans to relocate to the building this summer and was excited to score fully furnished space that allows it to move quickly, Koltis said.

“They wanted built and furnished space that’s ready to go and well located, and we checked those boxes,” Koltis said.

LSL AdvisorsEric Siegel represented Synthesia while Cushman & Wakefield (CWK)’s Heather Thomas and Ron Lo Russo handled both leases for Moinian. Siegel and a spokesperson for C&W declined to comment. A spokesperson for Synthesia did not immediately respond to a request for comment.

Meanwhile, TaxBit took 5,385 square feet to open its first New York City offices at 245 Fifth Avenue. TaxBit is a tech firm that provides tax, accounting and regulatory compliance services for people and companies using digital currencies.

The Utah-based company signed a three-year lease in March for part of the 12th floor, which it moved into a month after the ink was dry, Koltis said. Asking rent was $68 per square foot.

TaxBit’s new offices add to its three other outposts in the U.S. in San Francisco, Seattle and its headquarters in Draper, Utah, according to the company’s LinkedIn profile.

Avison Young’s Brooks Hauf and Jeffrey Burger represented TaxBit in the deal. A spokesperson for Avison Young declined to comment.

Other tenants in the 315,000-square-foot 245 Fifth include Valley National Bank, identity authentication startup Payfone and data firm Enigma Technologies.

Celia Young can be reached at cyoung@commercialobserver.com.