Artificial intelligence companies Normal Computing and Inspiren have each leased a full office floor at 61 West 23rd Street in Manhattan's Flatiron District. The two transactions comprise a total of 16,734 square feet in the building, which is owned by the Zegna family and Taconic Partners and is located between Fifth Avenue and the Avenue of the Americas. This was confirmed by landlord broker Cushman & Wakefield.
Connor Daugstrup of Cushman & Wakefield represented the landlord in both deals, alongside George Tsapelas of Taconic Development Advisors. Normal Computing, which specialises in developing AI hardware, leased 8,367 square feet in the seven-storey building. This represents a relocation and expansion of the company's New York headquarters.
A spokesperson for Normal Computing stated that the company currently occupies 5,250 square feet three blocks south at 27 West 20th Street and plans to move into its new premises in November. Around 30 employees will work there, with the available space allowing for a planned doubling of the New York workforce in the coming year. Gabe Marans and Maxine Rosen of Savills negotiated the headquarters lease on behalf of Normal Computing.
Technology companies in the Flatiron District
The second high-tech tenant at 61 West 23rd Street is Inspiren, which offers an AI-powered technology platform for senior living communities. A company spokesperson reported that Inspiren moved into its 8,367 square feet space in early September. This marks the company's first permanent office in New York City. Previous records placed Inspiren's New York operations at 19 Morris Avenue in Brooklyn's Navy Yard. Inspiren was represented by Adam Spector and Ally Krieger of Newmark.
The Zegna family and Taconic acquired 61 West 23rd Street in 2016 for $65 million. Taconic was tasked with repositioning the building, which included restoring the historic facade and upgrading the interiors with two new lobbies, modernised lifts, and pre-built offices. Other tenants include sports betting media company Action Network, as well as retailers Sisu Cosmetics and Empire State of Wine.
Similar office buildings across Midtown South are seeing increased demand for space this year from the city's fast-growing AI companies. The submarket accounted for 47 percent of total office demand in Manhattan in August, Colliers reported.
