
Penson Expands and Renews at 1 Penn
Penson, a financial services company, has expanded and renewed its lease at 1 Penn Plaza, the company’s brokers have told The Commercial Observer.
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Penson, a financial services company, has expanded and renewed its lease at 1 Penn Plaza, the company’s brokers have told The Commercial Observer.
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Notwithstanding WeWork’s impressive track record of growth and success in the city, Sean Black knew his tenant wasn’t necessarily going to be an easy sell to landlords.
In just over a year, WeWork had opened three thriving locations, in midtown, Soho and the meatpacking district. The company leases offices, then prepares the facility for smaller tenants and rents out the space on a desk-by-desk basis.
Though there are several companies in the city in what is known as the office-suite business, WeWork has created a distinct concept by constructing space with open floorplans and glass partitioning, a layout that fosters interaction between the tenants.
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Following a large leasing deal at 175 Varick Street last month, the asset’s landlord, Extell Development, is putting its leasehold interest in the approximately 185,000-square-foot office property up on the market.
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Location-based social network Foursquare will say goodbye to its longtime office mates at 36 Cooper Square. The startup, which raised a $50 million round of funding this summer, has vastly outgrown the 7,600 square feet at the East Village digs it shares with Curbed and web design shop Hard Candy Shell, and is negotiating a sublease for the top two floors at 568 Broadway. Read More