OnDeck Renews 13K-SF Office at 1400 Broadway
By Amanda Schiavo January 23, 2025 4:40 pm
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Business loan provider OnDeck Capital has renewed its office at Empire State Realty Trust-owned 1400 Broadway in Manhattan’s Garment District, Commercial Observer has learned.
OnDeck, which was acquired by fintech and analytics company Enova International in 2020, will continue to occupy the entire 13,000-square-foot 34th floor of the 37-story building after Enova signed a seven-year lease, a source with knowledge of the deal said. Asking rent was around $70 per square foot.
The tenant was represented by Jim Wenk and Kirill Azovtsev of Savills. Empire State Realty Trust handled it in-house via Jordan Berger. Savills declined to comment while ESRT did not respond to a request for comment.
OnDeck was started in the city in 2007 and moved its headquarters to 1400 Broadway in 2013, according to the company. Enova acquired OnDeck in 2020 in a deal valued at $90 million.
The office and retail tower at 1400 Broadway, between West 38th and 39th streets, boasts a newly refurbished lobby designed by architecture firm Fifield Piaker Elman, according to the ESRT website, and overlooks the Broadway pedestrian plaza and Herald Square.
Other tenants of 1400 Broadway include national retail chain Burlington, which signed a 16-year lease at the building last year, expanding its office presence by over 67,000 square feet across two floors, as CO previously reported. Immigration services law firm Fragomen, Del Rey, Bernsen & Loewy can also be found at 1400 Broadway.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
