Fintech Firm VCT Holdings Inks 35K-SF Lease at One Seaport Plaza

VCT Holdings, a global financial technology company, has signed a new sublease agreement at 199 Water Street, also known as One Seaport Plaza, in Lower Manhattan’s Seaport District.

The firm now occupies 35,454 square feet across the entire 10th floor of the 35-story office building, having signed a five-year lease at an asking rent of $40 per square foot, according to tenant brokerage Platinum Commercial, the commercial arm of the boutique brokerage Platinum Properties. VCT moved into One Seaport Plaza in January. 

Platinum Commercial’s Steven Evans represented the subtenant in this deal.

“VCT Holdings’ expansion at 199 Water Street speaks to both the company’s impressive growth trajectory and the enduring appeal of the Seaport as a hub for financial services firms,” Evans said in a statement. “As companies continue to prioritize well-located, amenity-rich offices for their teams, we’re proud to leverage our expertise in this market and facilitate long-term growth solutions within one of Downtown Manhattan’s most established office properties.”

The sublandlord, Tenth Revolution Group, was represented by Seth Hecht from JLL.

“Tenth Revolution Group’s ability to right-size while delivering a full-floor solution to a growing tenant like VCT Holdings underscores the strength of the market and the importance of aligning timing and demand,” Hecht told Commercial Observer. “This was a highly collaborative process and TRG’s partnership was instrumental in getting the deal done efficiently and in a way that met all parties’ objectives.”

Built in 1984 and owned by Jack Resnick & Sons, 199 Water Street spans over 1 million square feet and offers amenities that include a cafe and lounge area. Other tenants at the property include insurance company Allied World and fintech firm Arch. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.