AI Platform Harvey Moving NYC HQ to 17K SF at 315 Park Avenue South
By Mark Hallum June 25, 2024 2:58 pm
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A professional services firm powered by artificial intelligence has moved its New York City headquarters to Columbia Property Trust’s 315 Park Avenue South, Commercial Observer has learned.
AI platform Harvey signed a lease for 17,050 square feet across the entire fifth floor of the Flatiron District building between East 23rd and 24th streets, according to the landlord.
Asking rent in the building is $90 per square foot, according to the landlord, which did not disclose the length of the lease.
The deal was finalized in May and Harvey already moved into the building, which it’s calling a “permanent” Manhattan outpost. It’s unclear where the San Francisco-based AI firm is relocating from.
“The quality of the tenant roster, the team, the existing installation, the building and its unmatched location were key motivators driving the tenant’s decision to select 315 Park Avenue South as the home for their New York City office,” Newmark (NMRK)’s Jonathan Fanuzzi, who represented the landlord alongside David Falk and Peter Shimkin, said in a statement.
Maria Blake and Ted Koltis also negotiated in-house on behalf of the landlord while the tenant had representation from JLL (JLL)’s Todd Stracci and Hugh Scott. JLL did not immediately respond to a request for comment.
Harvey, backed by Sequoia and OpenAI’s startup fund, was founded by Gabriel Pereyra and Winston Weinberg in 2022 to create better workflow in the legal industry and has been pushing to raise $600 million in financial support in recent months.
In the spring, Columbia signed new retail tenants such as the flagship location for Chipotle founder Steve Ells’s vegan, robot-run eatery known as Kernel, while Just Salad extended its lease.
Other tenants in 315 Park Avenue South include crypto investment firm, and Napster owner, Hivemind Capital, which signed a three-year lease for 7,137 square feet in August 2022 and moved into the building in February 2023.
Real estate investment platform Cadre signed a lease for 17,050 square feet in May 2022.
Mark Hallum can be reached at mhallum@commercialobserver.com.
