Flatiron Health Doubles Manhattan Footprint
- Jun 25, 2019
Flatiron Health has signed a 10-year, 252,452-square-foot lease renewal and expansion that nearly doubles its footprint at One SoHo Square, a Class A office complex in Manhattan. The headquarters location for the health-care tech firm now spans nine full floors in the property, newly redeveloped by Stellar Management and Imperium Capital.
Savills completed the lease deal, which saw Flatiron renew its existing 130,384-square-foot lease, while taking an additional 122,068 square feet. Founded in 2012 and acquired by Roche in 2018, Flatiron now has 800 full-time employees with plans to grow to 1,000 by the end of the year.
One SoHo Square is located at 233 Spring St., at the border of the SoHo and Hudson Square neighborhoods, near the Hudson River in Lower Manhattan. The property was created by merging two pre-war towers of 15 and 13 stories via a new central core. The Gensler-designed redevelopment, sporting a common, double-height lobby, is almost fully leased up, with only one 30,000-square-foot floor remaining.
Senior Managing Director Zev Holzman, along with Brad Wolk and Herman Dodson, led the Savills team that advised Flatiron on the lease agreement. Brent Ozarowski, David Malawer, Andy Peretz and Brian Waterman of Newmark Knight Frank represented building ownership in the deal.
Stellar Management and minority owner Imperium Capital secured a $900 million refinancing package for One SoHo Square in May. Flatiron inked its original long-term lease for the property back in January 2018.