Fintech Firm Plaid Signs 45K-SF Lease at 530 Broadway

Shvo’s 530 Broadway has gone to Plaid.

The San Francisco-based fintech firm signed a deal for 45,300 square feet at the corner of Broadway and Spring Street, where it plans to relocate and expand its New York City offices from the nearby Puck Building, according to Shvo.

Shvo did not immediately disclose the terms of the deal, but the average asking rent for Midtown South in the fourth quarter of 2024 was $84.01 per square foot, according to a report from CBRE.

“530 Broadway isn’t just another office space — it’s a statement of creativity and craftsmanship,” Michael Shvo, chairman and CEO of Shvo, said in a statement. “As forward-thinking companies like Plaid seek to elevate their workplaces, this building offers a rare opportunity to provide employees with inspiring environments in one of New York’s most vibrant neighborhoods.”

Howard Hersch and Jennifer Schreiber from Newmark (NMRK) negotiated on behalf of Shvo while it is unclear who represented the tenant. Plaid, which has offices in Amsterdam and London, could not be reached for comment.

Plaid was founded in 2013 and allows financial apps to connect with users’ bank accounts. It was previously located at 13,075 square feet at 54 West 21st Street before moving to 30,000 square feet in the Puck Building at 295 Lafayette Street in 2019, as Commercial Observer previously reported.

After Shvo purchased 530 Broadway in 2020 from Thor Equities’s Joseph Sitt for $382 million, it set Daniel Arsham and his design firm Snarkitecture about the task of renovating the first four floors of the boutique office building.

Other tenants include Calvin Klein, which signed a 7,294-square-foot lease in December 2024, CO reported at the time.

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