Healthtech Company Nayya Takes 30K-SF Office on Park Avenue South
By Isabelle Durso October 28, 2024 1:30 pm
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Health technology company Nayya is taking 29,915 square feet of office space at SL Green (SLG) Realty’s 215 Park Avenue South, Commercial Observer has learned.
Nayya, which helps employees through the benefits enrollment process, signed a five-year lease for 17,255 square feet on the entire fourth floor and 12,660 square feet on part of the 18th floor of the 20-story building near Union Square, according to the landlord.
The company is currently subleasing the space from streaming service Hulu and will move into a direct lease with the new deal, a spokesperson for SL Green told CO.
Asking rent was $69 per square foot on the fourth floor and $72 per square foot on the 18th floor, according to CBRE (CBRE)’s Timothy Freydberg, who brokered the deal for the tenant.
“We’re excited to welcome Nayya to 215 Park Avenue South,” Steven Durels, executive vice president and director of leasing at SL Green, said in a statement. “This lease reaffirms the recent increase in tenant demand with the Midtown South market.”
SL Green was represented by an in-house leasing team of Howard Tenenbaum and Gary Rosen. A spokesperson for Nayya did not immediately respond to requests for comment.
Nayya will continue to be neighbors with several other tenants at 215 Park Avenue South, such as coworking space Industrious, health care technology startup Stellar Health, market researcher Rakuten Insight and public relations firm Global Strategy Group.
The deal comes as SL Green reported strong leasing and cash flow during its third-quarter earnings call this month, as CO previously reported.
The real estate investment trust reported $78.6 million in funds from operations during the third quarter of 2024, and it also announced an expected 92.5 percent occupancy rate across its portfolio by the end of the year.
Isabelle Durso can be reached at idurso@commercialobserver.com.
