Nagarro Moves From Sublease to Direct Lease at L&L’s 195 Broadway

A business-to-business digital product engineering firm is moving from a sublease to a direct deal with its Financial District landlord, Commercial Observer has learned.

After moving from 30 Vesey Street to L&L Holding Company’s 195 Broadway in July 2024, Nagarro is cementing its presence across 41,854 square feet on the 25th floor with a direct deal for an eight-year term, according to the landlord.

Asking rent was in the mid- to high-$50 per square foot range, according to a source with knowledge of the deal.

“Their agreement with us is a testament to all 195 Broadway has to offer: historic architecture, collaborative workspace, hands-on management, and an unbeatable location within the transit-rich, bustling downtown community,” Tanya Grimaldo, L&L Holding’s vice president of leasing, said in a statement.

Grimaldo, Jonathan Tootell and Giannina Brancato handled negotiations in-house on behalf of the landlord while CBRE’s Sinclair Li, Peter Shikar and Connor DeSimone represented Nagarro in the deal.

CBRE did not immediately respond to a request for comment.

Other tenants in the building include Michelin-rated Japanese-Peruvian restaurant concept Nobu; Brooks Brothers on the ground floor, where the brand signed a lease for 9,871 square feet in December 2024; public relations firm Orchestra, which took 42,000 square feet in September 2024; and fintech firm Payoneer, with 42,000 square feet signed in November 2023.

The building spans 1 million square feet across 29 floors between Fulton and Dey streets.

Mark Hallum can be reached at mhallum@commercialobserver.com.