IBM is set to triple its Union Square presence by expanding its footprint at 19 Union Square West, in the Flatiron District neighborhood of New York.
The tech giant has recently signed a 27,699-square-foot lease for three floors of the building—floors 9 through 11. According to The New York Post, the asking rent was $80 per square foot. The newly rented space in the 12-story mid-rise will host the company’s engineering and technology operations.
Prior to this deal, IBM subleased 9,233 square feet in the Class B tower from FanDuel, a daily fantasy sports operator. The Armonk-based multinational also occupies the entire 11-story mid-rise at 88 University Place, a building completely managed by WeWork, The Real Deal reported.
The 97,697-square-foot property at 19 Union Square West is located on the corner of Union Square West and 15th Street, between East 15th and East 16th Streets. Originally completed in 1912, the historic Manhattan office building currently houses nine other companies, active in a variety of industries.
The tenant roster includes clothing and accessories retailer American Eagle Outfitters, real estate brokerage firm Urban Compass, and recording studio Sonic Union, Yardi Matrix data reveals. The property is owned by ABS Partners Real Estate and includes 9,769 square feet of retail space.