Primary Ventures, Sigma Computing Each Sign 26K-SF Leases at 386 Park Avenue South
By Mark Hallum February 27, 2026 5:02 pm
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Three tenants are leasing more than 65,600 square feet of office space at 386 Park Avenue South in Manhattan’s NoMad neighborhood.
The largest two deals were for venture capital firm Primary Ventures and software company Sigma Computing, which each took 26,252 square feet, according to landlord broker Newmark. Primary Ventures took space on the 13th and 14th floors, while Sigma Computing leased space on the fifth and sixth floors.
Newmark did not immediately disclose the asking rent in the HSR Corporation-owned building or the lengths of the leases, but the average office asking rent for Midtown South was $84.77 per square foot in the fourth quarter of 2025, according to CBRE.
“386 Park Avenue South has long attracted high-caliber, forward-thinking companies,” Newmark’s Eric Cagner, who represented the landlord alongside David Falk, Dylan Weisman and Claire Koeppel, said in a statement. “This momentum reinforces the building’s position as an aspirational workplace environment, with ownership continuing to invest in the quality and design that today’s tenants expect.”
Newmark’s Howard Hersch and Lindsay Godard negotiated on behalf of Primary Ventures, while Brent Ozarowski, yet another Newmark broker, handled the deal for Sigma Computing. Sigma is relocating from RAL Development Services and JRE Partners’ new-ish development known as Zero Irving.
Sigma signed a lease for 15,420 square feet with a term of five years at Zero Irving in March 2022, Commercial Observer reported at the time.
Meanwhile, U.K.-based furniture and lighting firm Modern FL signed a lease for 13,121 square feet on the ninth floor of 386 Park Avenue South, with JLL’s Justin Haber, Kyle Riker and Emma Gill repping the tenant. The brokerage did not immediately respond to a request for comment.
It’s unclear if Primary Ventures and Modern FL are relocating from within New York City or if this will be their first offices in the boroughs.
Coworking firm Industrious is also a soon-to-be tenant at the NoMad building after announcing it signed a 23,000-square-foot lease there on Feb. 24.
Mark Hallum can be reached at mhallum@commercialobserver.com.
