AI Wealth Management Platform Vise Grabs 12K SF at 50 Ninth Avenue

Artificial intelligence-powered wealth management platform Vise is moving from SoHo to 50 Ninth Avenue in the Meatpacking District, where it will quadruple its office space to 11,949 square feet.

The space spans the second floor of several combined historic townhomes along the Ninth Avenue frontage and therefore has dramatic, over 20 foot-high pitched ceilings and an atrium outdoor garden.

Rob Kluge and Brandon Charnas of Current Real Estate Advisors represented the tenant in the 10-year lease.

Howard Hersch, Greg Conen, Jennifer Schreiber and Natalie Serio of Newmark represented the building owner, Tavros Capital, which will build out the space. The asking rent was $150 per square foot.  

Vise is an AI-driven wealth management platform for independent advisors founded by Samir Vasavada and Runik Mehrotra that launched in November 2019. It hosts over $100 billion in assets and the firm is reported to be valued at over $22 billion. It is currently located in 4,000 square feet of office space at 521 Broadway in SoHo.  

In searching for new digs, Vise was focused on upgrading both its office and culture.

“We worked with ownership on a creative solution whereby the ground-floor retailer, Jen Rubio’s fashion company — now known as Elsa, which was then negotiating their deal — would expand upstairs and take roughly another 4,000 to 5,000 square feet on the West 14th Street side of the floor,” Charnas said. “That allowed us to create a space for Vise that fit both their program and their budget.”

“We worked through multiple iterations with ownership and the architect to take what had been one larger floor and create the right long-term home for Vise,” added Kluge.

The resulting space primarily overlooks Ninth Avenue and sits directly across from the Apple store, with dramatic vaulted ceilings, tons of light and a build-out being designed specifically around Vise’s needs and specifications. 

It will also sit above the new Delilah club and across from the planned Annabel’s members club. “They’re planting their headquarters at an amazing Meatpacking location,” Charnas said.