Productivity App Notion Expands NYC Office at 75 Varick Street
By Abigail Nehring November 20, 2023 5:51 pm
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A San Francisco-based software developer liked New York so much it had the Notion to expand, Commercial Observer has learned.
Productivity app maker Notion inked a five-year deal with landlord Hines for 49,713 square feet on the eighth and ninth floors of 75 Varick Street, according to brokers on the deal.
Notion has been subleasing 26,876 square feet on the eighth floor of the 17-story landmarked former factory building in Hudson Square. Its new direct deal will keep that space and tack on another 22,837 square feet on the ninth floor.
The asking rent was $90 per square foot, according to a source with knowledge of the deal.
As part of the deal signed last week, razor subscription company Harry’s terminated its lease, the source said. Harry’s has been in the building since 2017 and expanded into additional space on the eighth floor in 2019, CO previously reported.
Harry’s did not immediately respond to a request for comment.
CBRE (CBRE)’s Jeffrey Fischer and Joseph D’Apice handled the deal for Notion, while Hines was represented by Newmark (NMRK)’s David Falk, Peter Shimkin and Jonathan Franzel.
Notion was founded 10 years ago. Although the app maker has San Francisco roots, Fischer said it’s growing its presence in multiple locations, particularly in New York, where its had a presence since 2021.
“We were able to find a landlord that could accommodate their growth,” Fischer said. “Notion was able to capitalize on fully built and furnished space, and this was truly a win-win situation for all parties involved.”
A spokesperson for Newmark declined to comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
