Leases  ·  Office

Therapy Startup Headway Subleases 32K SF at 205 Hudson Street

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A mental health startup is feeling the endorphins after securing space in Tribeca.

Headway signed a five-year sublease with ad firm Havas to relocate to 31,580 square feet on the ninth floor of 205 Hudson Street at the intersection of Canal and Hudson streets, Commercial Observer has learned.

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The terms of the sublease are unclear, but a source with knowledge of the deal said asking rents for direct leases in Hudson Square Properties’ 12-story building are in the mid-$60s per square foot.

Havas has been in the property since 2012, when it signed a lease for a 260,000-square-foot campus spanning two buildings at 200 and 205 Hudson Street. A spokesperson for Havas declined to comment further on the deal.

Headway was founded in 2019 and offers patients seeking mental health care access to a national network of about 26,000 therapists who accept insurance. It has attracted the attention of prominent venture capital funders, including Thrive Capital, Accel and Andreessen Horowitz, and announced the close of a $125 million funding round in October, which valued the company at $1 billion, Reuters reported.

Headway’s current New York office is listed as 114 Fifth Avenue, but the size of its space in the building is unclear. The company did not immediately respond to a request for comment.

Newmark (NMRK)’s Jason Greenstein and David Falk handled the deal for Havas while Eric Ferriello and Sam Einhorn of Colliers (CIGI) represented Headway.

Colliers did not immediately respond to a request for comment, and Newmark declined to comment on the deal.

Headway will join Tribeca Rooftop, which operates an event venue on the top floor of 205 Hudson, and beleaguered coworking provider WeWork, which is also a tenant in the building, according to the landlord’s website

Abigail Nehring can be reached at anehring@commercialobserver.com.