Lucid Trading, an application that allows users to manage their trading accounts, has occupied 8,263 square feet of office space at 260 Spring Street in Manhattan's SoHo district. This was confirmed by tenant broker Douglas Elliman. The lease for the office premises was signed on 1 October, with the estimated rent being $85 per square foot. The lease term is set for five years.
Thomas Higgins of Douglas Elliman represented the tenant in this transaction. Jared Rutledge of Colliers acted as the broker for the owner, StorageMart. This agreement was first reported by Traded.
Market Dynamics and Location
Thomas Higgins commented on the lease signing. He explained that after months of searching and missing out on two other properties, he was finally able to secure 260 Spring Street for his client. The commercial leasing market in New York City is becoming increasingly competitive, and finding the right space requires persistence, patience, and correct timing, according to Higgins.
It remains unclear whether this lease represents a new establishment for Lucid Trading, which was founded in early 2025, or a relocation of an existing site. Jared Rutledge was not immediately available for comment.
The Property 260 Spring Street
260 Spring Street, located between Varick Street and Hudson Street, is an eleven-storey mixed-use property. Current tenants include the retailer Manhattan Mini Storage on the ground floor, a division of the owner StorageMart, as well as the parcel service provider FedEx.
- —Address: 260 Spring Street, Manhattan
- —Lease Area: 8,263 square feet
- —Estimated Rent: $85 per square foot
- —Term: Five years
