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Commercial brokerage firm Raise Commercial Real Estate is finally locking down more permanent digs of its own.
Raise signed a three-year lease for 4,000 square feet at ABS Partners Real Estate’s 184 Fifth Avenue and will move from a WeWork at 115 West 18th Street, according to the tenant.
The tenant did not disclose asking rents but Midtown averaged about $77.49 per square foot in the first quarter of 2023, according to a Transwestern report.
Raise attributed the move to an increase in its headcount in the city. Raise also has added employees at its offices in Los Angeles, Silicon Valley and Denver over the last few years.
“Following the launch of Raise in the New York market office just over a year ago, we’re thrilled to be making the move into our new home across from the Flatiron Building and Madison Square Park, which will serve as a catalyst for our continued growth and presence in the region,” Jamie Katcher, managing director for Raise’s New York office, said in a statement. “The Midtown South submarket has continued to appeal to a wide array of tenants seeking a true live, work, play environment, and we’re excited to lay down our roots here.”
Katcher represented Raise in the deal alongside Douglas Regal, Sebastian Infante, Emilie Goldman and Henry Korzec while Ben Waller handled it in-house for ABS. ABS did not immediately respond to a request for comment.
The eight-story, cast-iron building was constructed around 1920 and is just west of the Flatiron Building.
Mark Hallum can be reached at mhallum@commercialobserver.com.
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