Intuit Expands Presence at 51 Astor Place, New York City
In a significant move to enhance its New York City presence, Intuit, the financial technology firm renowned for its leading products including TurboTax, Credit Karma, and QuickBooks, has finalized a decade-long lease agreement for an additional 77,000 square feet at 51 Astor Place.
Details of the Expansion
Intuit’s relocation to the East Village building occurred in August 2023, transitioning from a WeWork flex workspace to now occupy the full third floor of the 13-story structure. With this latest expansion, the company will extend its footprint to encompass the entire fifth, sixth, and seventh floors, along with some retail space at the ground level, bringing their total footprint to 115,000 square feet.
Location and Amenities
51 Astor Place is positioned at the vibrant intersection of Third Avenue and East Ninth Street, providing an ideal setting for businesses looking to thrive in a fast-paced area. Edward Minskoff, chairman and CEO of Edward J. Minskoff Equities, expressed enthusiasm for the partnership with Intuit, stating, “51 Astor Place is the premier office destination providing a superior work environment amid a dynamic and energetic, 24/7 neighborhood. We are excited to support Intuit as it continues its growth in New York City.”
Rental Details
While specific rental figures for Intuit’s lease were not disclosed, sources familiar with the agreement indicate that rental prices within 51 Astor Place range from $190 to $215 per square foot.
Brokerage and Representation
The negotiation process for this lease was facilitated by JLL (Jones Lang LaSalle), represented by Paul Glickman, Mitchell Konsker, Benjamin Bass, and Cynthia Wasserberger, in conjunction with Edward J. Minskoff’s representatives, Jeffrey Sussman and Matt Pynn. On behalf of Intuit, Bart Lammersen, Justin Haber, and Kyle Riker from JLL managed the transaction.
Significance of the Location
Glickman highlighted the attractive nature of 51 Astor Place, noting it as “a market-leading asset with best-in-class ownership and the highest-quality tenant services and amenities.” This makes the building an appealing option for employers looking to attract top talent in a competitive market.
Current Tenants
Other prominent firms located at 51 Astor Place include Tudor Investment, Perceptive Advisors, and the corporate offices for online retailer 1stDibs, contributing to the building’s reputation as a hub for diverse and esteemed enterprises.
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