Convene Establishing SoHo Presence with 32K SF at 555 Broadway
By Mark Hallum July 15, 2025 9:32 am
reprints
Meeting and events venue provider Convene is setting up a meeting, event and work space in SoHo, Commercial Observer has learned.
Convene signed a lease for 32,000 square feet at book publisher Scholastic’s 555 Broadway, which should accommodate about 450 clients on the second floor of the building as part of the company’s expansion plans.
Convene did not disclose the asking rent or the length of the lease, but the average asking rent in Lower Manhattan was $45.69 per square foot in the second quarter of 2025, according to a report from CBRE.
“Client experience is the top priority for Convene. The SoHo submarket has been one of the most requested destinations from our existing clientele, and we wanted to ensure that we could create a special venue that speaks to the energy and vibrancy of the neighborhood. We found that at 555 Broadway,” Brian Holland, senior vice president of real estate at Convene, said in a statement.
The new workspace will be the 16th in New York City for Convene and will open in spring 2026, according to the firm.
Karen Bellantoni and Jackie Totolo of Newmark negotiated on behalf of Scholastic in the deal, but did not immediately respond to a request for comment.
Scholastic did not immediately respond to a request for comment.
The book publisher, which bought the building for $255 million in 2014, has been exploring its options for a possible partial or full sale of the property, but has planned to remain an occupant under a sale-leaseback model, CO reported in June.
The company hired Newmark to market 555 Broadway, with the liquidity from the sale expected to go toward “capital allocation priorities,” CO previously reported.
It’s unclear how a sale of the building could impact Convene’s plans.
Convene’s expansion, which seems to have experienced little impact from office market headwinds in recent years, follows just a week after WeWork signed its first new lease since the pandemic at AmTrust RE’s 250 Broadway.
Mark Hallum can be reached at mhallum@commercialobserver.com.
