Venture Capital Firm TQ Ventures Signs 7K-SF Lease at 96 Spring Street

TQ Ventures, an early-stage venture firm based in New York City and San Francisco, has signed a 10-year, 7,415-square-foot lease for a new headquarters at 96 Spring Street in Manhattan’s SoHo neighborhood, Commercial Observer has learned. 

The asking rent was not disclosed, but the average asking rent for office space in Lower Manhattan was $59.26 per square foot in February, according to data from CBRE. 

The tenant was represented by Gabe Marans and Maxine Rosen from Savills, while Brent Ozarowski and Kevin Sullivan from Newmark represented landlord Midwood Investment & Development. Both Newmark and Savills did not immediately respond to CO’s requests for comment. 

“We are excited to welcome TQ Ventures to 96 Spring Street, and believe they will be a strong addition with a respected reputation in their industry to the building’s existing roster of innovative and high-end companies,” Ron Bondy, executive vice president of leasing at Midwood, said in a statement.

“Located in the heart of SoHo, between Broadway and Mercer Streets, 96 Spring offers our tenants a combination of historic character and immediate access to some of the city’s best retail, dining, and culture,” Bondy added.

TQ Ventures was founded in 2018 by Schuster Tanger and Andrew Marks, with Scooter Braun as an early partner. The firm will occupy the entire seventh floor of the eight-story SoHo building.

TQ Ventures’ current New York City address is 408 West 14th Street, according to Bloomberg. It is unclear when the firm will relocate to its new office, which will give the firm 70 percent more office space than its current spot. 

“We’re designing this space from the ground up to reflect how we work and how founders build today — a place to think, collaborate, ideate and congregate,” co-founders Marks and Tanger said in a joint statement. “Every detail will reflect how we partner day to day with our founders and create a space for meaningful conversations. We’re thrilled to be in SoHo, which strikes the right quintessential New York vibe: taste, creativity and innovation.”

Midwood acquired 96 Spring Street in 1998. The building is also home to tenants including investment firm Lead Edge Capital, retailer Alo Yoga and restaurant group Chefs Club. 

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