VC Firm UpStart Ventures Takes 15K SF at Global Holdings’ Nomad Tower

Health care venture capital firm UpStart Ventures is setting up shop in Manhattan’s NoMad neighborhood, Commercial Observer has learned.

UpStart Ventures, which is based in Salt Lake City and focuses on early-stage life sciences and health care innovations, has signed a seven-year lease for 15,356 square feet on the entire 33rd floor of Global Holdings’ 39-story Nomad Tower at 1250 Broadway, according to the landlord. Asking rent was $98 per square foot.

The deal represents a relocation for UpStart Ventures, which will move from another New York City office to its new one between West 31st and West 32nd streets in late spring of 2026. It’s unclear what address the firm is moving from.

“UpStart Ventures represents the kind of innovative, growth-oriented company that would choose Nomad Tower for its central location and premium amenities, including a state-of-the-art fitness center and conferencing center,” Craig Panzirer, senior vice president and director of leasing at Global Holdings, said in a statement.

“Our modern, unparalleled spaces provide the efficiency and sophistication sought by innovative firms on the cutting-edge of the tech industry,” Panzirer added.

Newmark’s Scott Brown brokered the deal for the tenant, while Global Holdings was represented in-house by Panzirer and Alex Radmin, as well as by JLL’s Paul Glickman, Mitchell Konsker, Benjamin Bass, Kristen Morgan, Harrison Potter and Diana Biasotti.

“UpStart was seeking a creative, high-end space with great views, convenient access to public transportation, and premium amenities,” Newmark’s Brown said in a statement to CO. “1250 Broadway checked all the boxes.”

“We’re thrilled to welcome Upstart Ventures to Nomad Tower, where our roster of leading tenants occupies a future-ready workspace designed for talent, sustainability and growth,” JLL’s Glickman added.

A spokesperson for UpStart Ventures did not immediately respond to a request for comment.

Founded in 2009, UpStart Ventures manages UpStart Life Sciences Capital, which invests in “breakthrough technologies and leading life science companies,” according to Global Holdings. The firm specializes in medical devices, drug delivery systems, diagnostics and more.

The VC firm will join several other tenants at Global Holdings’ Nomad Tower, including software company Elastic, data platform Datavant, law firm Gunderson Dettmer, real estate app Zillow, and fintech firms Copper and Toss Securities, which recently signed deals at the building in July.

Global Holdings also completed in 2019 a $55 million renovation at 1250 Broadway, including a new lobby, a 90-person amphitheater for tenants, an arcade room, a fitness facility and more.

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