Stash Financial, a company specialising in digital personal finance and micro-investments, has signed a lease for 12,322 square feet of office space at 641 Avenue of the Americas. The landlord of the property is Spear Street Capital. This transaction, observed within the context of corporate market movements in New York City, secures a new business address for the fintech company in a prominent Manhattan district.
The lease was signed in mid-August, as confirmed by a source close to the deal. The exact duration of the tenancy has not been publicly disclosed. Stash Financial will occupy a portion of the building's sixth floor, which, according to the building's website, comprises a total area of 22,000 square feet. The asking rent for the space was $98 per square foot.
Strategic Move and Location Advantages
The move represents a relocation for Stash Financial from its previous premises, a WeWork co-working space at 450 Park Avenue South. The exact timing of the actual move is unclear at present. 641 Avenue of the Americas is located in Manhattan's desirable Chelsea neighbourhood, between West 19th and West 20th Streets, and is an eight-storey Beaux-Arts style office property.
In the leasing process, the landlord was represented by Jason Greenstein and Jonathan Franzel of Newmark. The tenant, Stash Financial, was advised by a CBRE team comprising Paul Amrich, Neil King, Meghan Allen, and Zach Price. Neither brokerage firm provided detailed comments on the terms of the agreement at the time of publication.
Building and Existing Tenants
The building at 641 Avenue of the Americas already accommodates other notable tenants. These include the fragrance company DSM-Firmenich and the cloud software company Infor. The presence of these companies underscores the location's appeal to various industries.
- —Property Address: 641 Avenue of the Americas, Manhattan
- —Tenant: Stash Financial
- —Area: 12,322 square feet
- —Letting Agents: Newmark (Jason Greenstein, Jonathan Franzel)
