The Moinian Group has agreed two new lease contracts with technology companies at its commercial property 245 Fifth Avenue in New York's Midtown South submarket. In total, the newly committed space comprises 26,000 square feet of office space.
The new occupiers include Blacksmith Software, a service provider for users of the GitHub development platform. The company leased the entire seventh floor of the property, amounting to 14,000 square feet. At the same time, Sona Technologies, a company specialising in human resources software and artificial intelligence, secured the entire 19th floor with an area of 12,000 square feet.
Market environment and location conditions
The Moinian Group did not disclose details regarding asking rents or specific lease terms. A market report from Lee & Associates put the average prime rent in Midtown South for the third quarter of 2026 at 71.43 dollars per square foot.
Omar Sozkesen, Vice President of commercial leasing at The Moinian Group, highlighted that 245 Fifth Avenue consistently appeals to companies seeking high-quality space in one of Manhattan's most active commercial districts. According to Sozkesen, the latest deals reflect sustained demand for the building, along with the location advantages, flexible floor plates and character of the property.
Advisers involved and tenant profile
On the landlord side, The Moinian Group was represented by an advisory team from Newmark comprising Scott Klau, Erik Harris and Ben Klau. Blacksmith Software was advised by brokerage Tandem Space, while Evan Kleinberg and Lenny Kohlmayer of Cornelia Street Partners conducted negotiations on behalf of Sona Technologies.
The office building is situated at the junction of Fifth Avenue and East 28th Street, two blocks north of Madison Square Park. Several other lettings have taken place in the building in recent months:
- —WeWork completed a lease for 55,000 square feet in August 2025, which was only its second new lease at the time following its exit from Chapter 11 bankruptcy proceedings.
- —The Institute of Integrative Nutrition extended its existing lease for 14,000 square feet in March 2025.
With these latest completions, the owner strengthens the occupier base at the long-standing Fifth Avenue location and continues its letting track record in Midtown South.
