Design software company Nomic AI has signed a lease for 4,890 square feet at 99 University Place. This deal is one of four new leases at the office building in the immediate vicinity of Union Square. Real estate service provider Commercial Observer reported on these developments.
In addition to Nomic AI, therapeutic room provider Therapeutic Alliance Suites and building systems developer T Moriarty & Son have each leased 4,890 square feet across entire floors of the building, which is owned by Bijan Nassi. This was announced by the brokering agent Noah & Co. According to Noah & Co., rental prices in the building are $55 per square foot.
Demand in Greenwich Village
Benjamin Blumenthal of Noah & Co., who represented the owner alongside Rachel Fox, commented on the market situation. He said that the momentum at 99 University Place reflects the demand for the comparatively limited supply of authentic office buildings in Greenwich Village. There are only a few buildings in the neighbourhood that combine an excellent location with authentic character, high ceilings, natural light, and manageable full-floor plates. When these spaces are correctly positioned and brought to market with care, tenants respond quickly.
Eddie Sisca and Taylor Walker from CBRE negotiated on behalf of Nomic AI for the entire tenth floor. Drew Silvester from Colliers represented Therapeutic Alliance Suites in the transaction for the sixth floor. Todd Korren and Noah Caspi from Lee & Associates NYC advised T Moriarty & Son on their negotiations for the fifth-floor space.
Further deals in detail
The smallest of the four leases was concluded by alternative asset management firm BSQ Capital Partners, which will occupy a 923-square-foot space on the second floor of the property. These transactions underscore the continued attractiveness of high-quality office space in established Manhattan locations.
