The immigration law firm Manifest Law has signed a significant sublease agreement for 18,200 square feet at 902 Broadway in New York City. The company will take over space previously occupied by Adaptive Security, a cybersecurity provider. This transaction was brokered by Nomad Group, who acted as agents for the tenant.
The new space comprises the entire eighth floor of the building. The letting comes just under four months after Adaptive Security itself took a 51,220 square foot sublease from BarkBox at Silverstein Properties' 120 Broadway building. The asking rent for the premises subleased by Manifest Law was $75 per square foot.
Strategic Location Choice and Market Development
The 902 Broadway building stretches along Broadway between East 20th and East 21st Street, strategically located between the historic Flatiron Building and Union Square. This location is considered an emerging hub for ambitious companies in New York City.
Bill Janetschek of Nomad, who represented Manifest Law alongside Nick Hein and Matthew DeRose, commented on the transaction. He emphasised that Manifest's move underscores the development of Union Square and Flatiron as an attractive location for ambitious companies committed to New York City and in-person collaboration. Following a $60 million Series A funding round, Manifest Law required a headquarters that matched their growth momentum and the speed of their team.
Manifest Law is relocating merely about five blocks from its previous address at 333 Park Avenue South. Negotiations for Adaptive Security were handled by Christopher Foerch and Zev Holzman of Savills. A statement from their side was not available at the time of publication.
Other Prominent Deals at 902 Broadway
The 902 Broadway building has recently seen other significant letting agreements. These highlight the attractiveness of the location for various industries.
- —Law firm Fenwick & West expanded to 72,800 square feet across four floors in June.
- —Real estate development company Hudson Companies leased 18,200 square feet in March.
