Investment Firm Battery Ventures Takes 11K SF on Fifth Avenue
By Abigail Nehring November 15, 2023 11:39 am
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A Flatiron District office building that changed hands last month just signed up a new tenant, Commercial Observer has learned.
Global investment firm Battery Ventures inked a five-year lease for 10,600 square feet on the third floor of 100-104 Fifth Avenue, according to a source with knowledge of the deal. Asking rent was $95 per square foot.
Battery Ventures’ current New York office is listed on its website as 636 Avenue of the Americas, just a few blocks from its new digs. It will move to 100-104 Fifth early next year, the source said.
A spokesperson for the firm did not respond to a request for comment.
Former landlord Clarion Partners (CPREX) bought the 20-story office building a decade ago for $230 million and sold it at a significant loss this fall, The Real Deal first reported. Sovereign Partners snapped up the property in November for $126.5 million. The building is at Fifth Avenue and 15th Street, seven blocks south of the landmark Flatiron Building and a block west of Union Square.
Newmark (NMRK)’s Eric Cagner and Leo Koné handled the deal for Battery Ventures, while Sovereign was represented by the Kaufman Organization’s Grant Greenspan.
Cagner and Greenspan declined to comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
