Web3 Firm Takes 6.5K SF in Gramercy Park

Web3-focused venture capital firm Hack VC has signed a sublease for 6,500 square feet at 116 East 16th Street in Gramercy Park, Commercial Observer has learned.

The asking rent was $53 per square foot.

Hack VC will be taking the entire eighth floor in the building for a term of three years and five months, which is the remaining term on the lease. 

Rob Kluge and Brandon Charnas of Current Real Estate Advisors represented Hack VC in the deal. Jesse de la Rama with CBRE represented sublessor WithSecure.

Hack VC will be moving to its new space from 809 Broadway, where it briefly occupied a smaller space, according to Current.

Samco Properties owns 116 East 16th Street, which is between Union Square East and Irving Place. WithSecure’s lease at the property was for $65 per square foot, according to previous reporting by CO.

“This deal is a testament to moving rapidly when there is a shortage of quality office space in NYC,” Kluge said in a statement to CO. “When the space came to market, we saw it immediately and submitted an offer on behalf of Hack right away. The market is hyper-competitive right now, and we are ultra-responsive to get deals over the finish line.”

Other tenants at 116 East 16th Street include The Stand Restaurant & Comedy Club, Optum Physical Therapy and Medical Dynamics.  

Larry Getlen can be reached at lgetlen@commercialobserver.com.