Telehealth Startup Ro Takes 35K SF at 625 Avenue of the Americas
By Abigail Nehring November 1, 2023 10:16 am
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A men’s telehealth startup found a new Manhattan home in the historic Ladies’ Mile shopping district.
Ro signed a 10-year lease to move its headquarters to 35,156 square feet on the entire fourth floor of 625 Avenue of the Americas, Commercial Observer has learned. The five-story building between West 18th and 19th streets in Chelsea once housed luxury department store B. Altman and Company.
Asking rent was $89 per square foot, according to a source with knowledge of the deal.
Co-founders Zachariah Reitano, Saman Rahmanian and Rob Schutz launched Ro in 2017 as Roman Health after raising $3.1 million in seed funding, the New York Times reported. Originally conceived as a “cloud pharmacy for erectile dysfunction,” Ro now offers a variety of direct-to-patient health care services with the option of filling prescriptions through an online pharmacy network.
In 2019, Ro signed a five-year lease for 38,225 square feet on the fourth floor of 695 Avenue of the Americas, CO previously reported. The company did not immediately respond to a request for comment about its move three blocks south or its decision to downsize by 3,069 square feet.
Ro was represented by CBRE (CBRE)’s Ross Zimbalist and Venture Commercial’s Arash Sadighi, while Ross Eisenberg of RDE Advisors handled the deal for the owner, a private company led by Charles and Channa Taub.
625 Avenue of the Americas’ lobby and elevators were renovated this year, and a new roof deck will be completed in 2024, according to the building’s website.
Eisenberg declined to comment. Zimbalist and Sadighi did not respond to requests for comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
