Tech Workspace Opportunity in Soho – Cool Office / Loft Space

October 28, 2016

Tech Office Spaces Author

Washington D.C. Team Market Expert | Assistant Director, Savills Studley | DC/MD/VA Licensed Real Estate Broker

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Creative Office Space at 434 Broadway – Perfect for TAMI Tenants

There are only a handful of buildings in SoHo that are appropriate for high-end creative and tech users.  The majority of the office buildings in this area of New York City are antiquated and in dire need of renovations. However, in the recent years, more and more landlords have improved these dilapidated and crumbling assets in an effort to maximize the values of their holdings in one of Manhattan’s surging real estate markets.  Known for trendy upscale boutiques, blended with international chains, SoHo is a cultural melting pot. One of the most interesting buildings in the area is 434 Broadway. Located on Broadway between Howard and Grand Streets, it is just a short walk from the N,Q,R and 4, 5, 6 trains. In 2013, it was bought by the Savanna Real Estate Fund for roughly $62 million. Savanna has since invested a great deal of capital into renovating the lobby, windows, elevators, and mechanical systems- making it an ideal destination for mature companies seeking an office space with both credible and stable ownership.

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The entire 2nd and 4th floors are currently available on a direct basis. Both floors are whiteboxed and will be pre-built by Savanna. The 4th-floor measures 7,250 rentable square feet and will be completed in mid-November with a predominantly open area and some offices along the perimeter of the space (click here for floor plan). The 2nd floor measures roughly 7,000 rentable square feet and will be constructed by March of 2017 with primarily open area and one conference room. These floors have 13′ ceilings and gigantic windows- which allow for a tremendous amount of natural light.  This opportunity is  ideal for tech, advertising, media, and information firms looking for cool & creative space in the heart of SoHo.

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