The renowned travel and lifestyle platform The Points Guy (TPG) has taken new office space in Manhattan. The company secured 11,765 square feet in the 26-storey office building at 875 Avenue of the Americas, known as One NoMad. The property is located at the corner of Avenue of the Americas and West 31st Street in the NoMad district.
The lease was arranged by owners Kaufman Organization and Beacon Capital Partners. The asking rent was $85 per square foot, according to Kaufman. The lease agreement has a term of five years and six months.
Details of the Transaction
Negotiations on behalf of the landlords were led by Grant Greenspan, Michael Kaufman, and Benjamin Saftler of Kaufman. TPG was represented by Jonathan Fein and Brian Decillis of Cushman & Wakefield. Grant Greenspan, Principal of Kaufman’s leasing division, emphasised that The Points Guy is exactly the type of dynamic, forward-thinking company that One NoMad was designed for.
At the time of publication, it was not known whether TPG would relocate its offices at 100 Fifth Avenue from Sovereign Partners, one block west of Union Square. The travel media platform was launched in 2010 by founder Brian Kelly to help users maximise their credit card points for travel. The company was recently acquired by Red Ventures, a digital media and marketing company.
Investments and Building Profile
Kaufman and Beacon recently invested $10 million in modernising 875 Avenue of the Americas and rebranded the pre-war building as One NoMad. These renovations included adding features specifically aimed at attracting media companies, including a private theatre. The 265,000-square-foot tower houses other tenants, such as advertising network Firefly and digital workplace marketplace Instant Group.
