AI Platform Synthesia Expands to 14K SF at Moinian’s 245 Fifth Avenue

Generative artificial intelligence company Synthesia has taken more office space in Manhattan’s NoMad neighborhood.

Synthesia, which provides an enterprise-focused video communications platform backed by “Shark Tank” investor Mark Cuban, has signed a five-year lease for 13,600 square feet at the Moinian Group’s 245 Fifth Avenue, according to the landlord.

The deal represents an expansion for the AI firm, which originally took 6,490 square feet on the 16th floor of the 26-story office building in April 2023 when it relocated from 111 East 14th Street, as Commercial Observer previously reported.

“245 Fifth Avenue’s unparalleled Midtown South location continues to attract a very dynamic and varied collection of businesses,” Omar Sozkesen, a vice president of commercial leasing at Moinian, said in a statement.

The asking rent in Synthesia’s deal was unclear, but asking rent in the building was $75 per square foot as recently as March.

Lee & Associates NYC’s Dennis Someck and Justin Myers brokered the deal for the tenant, while Newmark’s Scott Klau, Erik Harris, Zachary Weil, Cole Gendels and Benjamin Klau represented the landlord.

“This [deal] provided the opportunity to shift to a built space on a full floor with tremendous light,” Someck said in a statement to CO. “This was a seamless expansion for them.”

Spokespeople for Synthesia and Newmark did not immediately respond to requests for comment.

Meanwhile, several other recent leases at 245 Fifth Avenue have brought the property to 90 percent occupancy, Moinian said. That includes coworking firm WeWork’s lease for 55,000 square feet on the second and fourth through sixth floors earlier this month, as CO reported.

It also includes cloud backup platform Eon’s recent five-year lease for 7,300 square feet, macroeconomic and geopolitical advisory firm Greenmantle’s six-year deal for 5,100 square feet, law firm Crosby Legal’s five-year lease for 6,500 square feet, London-based magazine The Spectator’s five-year deal for 4,675 square feet, engineering firm Schnackel Engineers’ five-year lease for 2,200 square feet and marketing agency Calcium+Company’s expansion to 10,200 square feet, according to Moinian.

Those leases come after Pixida, a new Mediterranean restaurant, signed a 20-year lease for a 16,129-square-foot, multi-level space at the base of the building in October, as CO previously reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.