New York eHealth Collaborative and Dynatrace Sign Leases at 5 Penn Plaza

The owner of 5 Penn Plaza has two new tenants who have signed 19,000 square feet of space combined, the New York Post first reported.

In the largest deal, New York eHealth Collaborative, which works with the New York State Department of Health to streamline the exchange of health care information, signed a 15,000-square-foot lease on the 12th floor of the building, according to landlord broker JLL (JLL).

JLL did not disclose the length of the lease or the asking rent in the Stephen Haymes-owned office tower, but the average price for Midtown office space in the fourth quarter of 2024 was $82.13 per square foot, according to a report from CBRE.

The eHealth Collaborative will relocate from the 23rd floor of 1385 Broadway.

“5 Penn has been a hub of collaboration, communication, and technology for the world’s leading companies for over a century,” Haymes said in a statement. “Our continued investment in the property ensures that it remains a leading destination address for businesses seeking an elevated office experience in the heart of Manhattan.”

A few floors up, Dynatrace, an artificial intelligence developer, signed a 4,000-square-foot deal on the 24th floor of the building where it will have access to a wrap-around terrace, according to JLL.

This will be the firm’s first New York City office, adding to its global footprint of outposts in Mountainview, Calif., Denver, Colo., and its main headquarters in Waltham, Mass.

Christine Colley, Kristen Morgan, Greg Wang, Kate Roush and Dan Turkewitz of JLL represented the landlord in both deals while Joe Speck and Reid Longley from Colliers handled the deal for New York eHealth Collaborative.

Reeves McCall and Taylor Walker from CBRE (CBRE) represented Dynatrace in the deal.

Spokespeople for Colliers and CBRE did not respond to requests for comment.

Mark Hallum can be reached at mhallum@commercialobserver.com.