Paris Hilton’s Spouse’s VC Firm M13 Takes 10K SF at 419 Lafayette
By Mark Hallum March 20, 2024 1:22 pm
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Paris Hilton may not have actually worn a shirt that said “Stop being poor,” but her husband seems to be taking that advice to heart anyway.
Carter Reum’s venture capital firm M13 is expanding from a 3,500-square-foot space at 568 Broadway to 10,000 square feet on the sixth floor of Albert Malekan’s 419 Lafayette Street, Commercial Observer has learned.
A source with knowledge of the deal said the length of the lease was for 10 years and asking rent ranged from the mid-$60s to mid-$80s per square foot.
Reum, a DJ and entrepreneur, married Hilton in November 2021, a process that was documented over the course of a 13-episode reality show called “Paris in Love.” Some of M13’s investments include wellness services booking app ClassPass, clothing brand Bonobos and pharmaceutical delivery service Capsule.
“This move to 419 Lafayette is more than just a change of address for M13; it’s a strategic investment in the company’s future as it offers an environment focused on innovation, collaboration and growth,” Newmark (NMRK)’s C.J. Heitner, who represented the tenant, said in a statement. “We were meticulous in selecting a space that would exceed their needs, fostering an environment where ideas can thrive.”
Ali Reslan of RDE Advisors negotiated on behalf of the landlord in the deal but did not respond to a request for comment.
Other tenants in the 60,000-square-foot building between East Fourth Street and Astor Place include Barry’s Bootcamp, security firm Citadel Security Agency, and Icon Realty Management.
In May 2022, communication technology firm Creatd signed an 8,000-square-foot lease on the sixth floor for its New York City headquarters, but has since vacated the building.
Mark Hallum can be reached at mhallum@commercialobserver.com.
