Development Platform Unity Technologies Takes 10K SF at 817 Broadway

Development platform Unity Technologies has signed a new deal at 817 Broadway, bringing the office building just south of Manhattan’s Union Square to 100 percent leased, Commercial Observer has learned.

Unity, which provides software for creators to make real-time 3D content, will move into 10,000 square feet on the entire second floor of the 14-story building owned by Taconic Partners and Nuveen Real Estate, according to ownership.

“We’re honored to welcome Unity Technologies to the dynamic ecosystem of firms that call 817 Broadway home,” George Tsapelas, senior vice president of development at Taconic, said in a statement. “Reaching full occupancy is a significant milestone and reflects both the strength of the tenant mix and the singular blend of New York history and modern professional space at the property.”

The length of the lease and asking rent were unclear, but when venture capital firm Inspired Capital moved onto the entire eighth floor of 817 Broadway in February 2023, the asking rent was $115 per square foot, CO previously reported.

Savills’ Gabe Marans and Maxine Rosen brokered the deal for the tenant, while Newmark’s Daniel Levine, David Falk and Jason Greenstein represented ownership. Spokespeople for Savills, Newmark, Unity and Nuveen did not immediately respond to requests for comment.

Unity’s lease brings the 140,000-square-foot building to full occupancy, as the building is also home to Inspired Capital, venture capital firm Union Square Ventures, private equity firm SDC Capital Partners, venture capital firm 25madison and Netflix. Italian restaurant Leon’s also occupies the ground-floor retail space.

Taconic, Nuveen and Squire Investments bought 817 Broadway for a whopping $109 million in November 2016 and later fully revamped the property to feature high-end, full-floor offices, a 4,000-square-foot rooftop terrace, a fully restored facade and a redesigned lobby.

Built in 1895, the landmarked building between East 11th and East 12th streets was considered one of New York City’s first skyscrapers, and is one of the few remaining structures designed by architecture pioneer George Post.

News of the deal, however, comes after Taconic listed the office tower for sale or recapitalization in January, as the firm seems to be on a selling streak, The Real Deal reported at the time.

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