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Homebuying ‘unicorn’ takes 107,000 s/f at 195 Broadway

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Cushman & Wakefield arranged a long-term lease for Orchard Technologies, Inc. at L&L Holding Company’s 195 Broadway.

Orchard, a technology company founded in NYC that simplifies the home selling and buying process, will occupy 107,443 s/f across the entire 26th and 25th and partial 24th floors.

Orchard’s nearly 200 New York based employees will be moving into the new space in early 2022, with hundreds of new jobs expected to be filled in the year ahead.

“Keeping innovative tech leaders and their employees in New York City is important to our recovery. It’s great that Orchard is committed to the city and to keeping jobs here. We know their workers will be engaged and thrive in Lower Manhattan’s Financial District,” said New York City Economic Development Corporation President and CEO Rachel Loeb. “We celebrate Orchard’s success and one more proof point that tech is making its future here.”

Cushman & Wakefield’s Peter Trivelas and Gary Ceder represented the tenant in the transaction in coordination with the firm’s Project & Development Services and Workplace Consulting professionals.  L&L Holding was represented in-house by Vice President and Director of Leasing Andrew Wiener.

195 BROADWAY

“We are thrilled to have found Orchard an office space that achieves its near-term objectives while also allowing for future growth and flexibility,” said Trivelas. “195 Broadway is surrounded by transportation and retail options, offering Orchard an ideal location to continue expanding and bringing new jobs to New York City, the very place the company was founded.”

Orchard is simplifying the home buying and selling experience, making it stress-free, fair and simple. Launched in 2017, the company recently achieved “unicorn” status, achieving a $1 billion valuation, after its recent $100 million funding round.

“We’re thankful to have worked with the team at Cushman & Wakefield to find an office where we can continue to grow our team,” said Court Cunningham, CEO and co-founder of Orchard. “FiDi is a vibrant community and we look forward to the benefits of in-person collaboration with our team as we continue to transform home buying and selling.”

“We are excited to welcome Orchard to 195 Broadway, which continues to attract a diverse variety of tenants seeking modern and collaborative office spaces in the heart of Downtown,” Wiener said. “195 Broadway has proven to be a magnet for innovation economy companies that value distinctive architecture, open floorplates and unrivaled connectivity via two 21st century transit hubs.”

The galleria is home to restaurant Nobu Downtown.

195 Broadway – the former world headquarters of AT&T – is a class A, landmarked office building that spans approximately 1.1 million square feet across 29 stories. In 2017, L&L completed a massive renovation and redevelopment that transformed the building’s historic William Welles Bosworth-designed lobby into a retail galleria. The galleria is now home to acclaimed restaurant Nobu Downtown and retailer Anthropologie. Other major office tenants at the property include global marketing and communications firm Omnicom, publishing house HarperCollins, and luxury fashion brand Gucci.

The post Homebuying ‘unicorn’ takes 107,000 s/f at 195 Broadway appeared first on Real Estate Weekly.

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