Savills Studley announced today that the firm has negotiated a long-term lease for Flatiron Health. The company will relocate its headquarters to occupy over 108,000 square feet across four floors in the East tower of Stellar Management and Imperium Capital’s One SoHo Square – a newly renovated Class A office building located on the border of SoHo and Hudson Square.
Founded in 2012, Flatiron is a New York City-based healthcare technology company focused on accelerating cancer research and improving patient care. Flatiron’s interdisciplinary team — nearing 500 employees — includes oncologists, software engineers, quantitative scientists, product managers, and designers working together to transform the way cancer is understood and treated.
To encourage Flatiron Health to expand in New York State, Empire State Development (ESD) will provide the company with up to $6 million in performance-based tax credits through the Excelsior Jobs Program.
“Companies like Flatiron Health create quality jobs and spur rapid advancement in New York’s growing healthcare and technology industries," said ESD President, CEO & Commissioner Howard Zemsky. "Flatiron’s expansion will broaden our understanding of cancer research and patient care and support the state’s cutting-edge life sciences sector.
Zev Holzman of Savills Studley represented Flatiron Health, along with colleagues Brad Wolk, Herman Dodson and Brian Scharfman. David Fleisher of Savills Studley’s KLG Advisors represented Flatiron Health in incentives negotiations with ESD. Brian Waterman, Andrew Peretz, David Malawer and Brent Ozarowski of Newmark Knight Frank represented the owner.
“Flatiron Health has grown rapidly and needed a large block of space in a prime location, with all of the attributes and amenities that today’s technology companies know and expect. Together with Flatiron’s team, we crafted a customized transaction to meet the company’s business objectives and pave the way for a new headquarters that will serve employees and the company mission for many years to come,” said Zev Holzman, Senior Managing Director at Savills Studley.
"We are thrilled to relocate Flatiron's headquarters to One Soho Square in the spring of 2018,” said Nat Turner, co-founder and CEO of Flatiron Health. “New York has been our home since launching in 2012 with just a handful of employees in a shared workspace. The move to the new office — almost double our current size — gives us the much needed flexibility to grow our team working to accelerate cancer research in the months and years to come.
“Flatiron Health’s decision to expand and relocate their headquarters to One SoHo Square is a testament not only to the continued desirability of the neighborhood but to the building itself; C-Suites and employees alike appreciate our fresh take on what Class A office should be,” said Ryan S. Jackson, a principal at Stellar Management.
The company will join notable tenants including Glossier, MAC Cosmetics, Trader Joe's, Managed by Q, DoubleVerify and Warby Parker when they relocate to the building in spring 2018. “The evolution of One SoHo Square has been an incredible journey and it is thrilling that such an exciting tenant like Flatiron Health will bring its energy to our growing complex,” said Andrew Peretz, Executive Managing Director at Newmark Knight Frank.
Designed by Gensler, One SoHo Square has some of the largest and most efficient floorplans available in Midtown South, with space ranging from 12,000 square foot pre-built suites to a 90,000 square foot contiguous block, as well as newly re-designed penthouses with private outdoor space. One SoHo Square East - a 15-story building, and One SoHo Square West – a 13-story building – are connected by a marquee glass cube lobby and sleek new central core overlooking the recently renovated SoHo Square Park. The core houses the buildings new nine-passenger elevators, mechanical systems, and bathrooms, allowing the spaces to work in efficient and diverse configurations, and the opportunity for a separate entrance/elevators and retail component along Avenue of the Americas.
In addition, the building provides a variety of amenities including a tenant-exclusive rooftop deck, 24/7 concierge, messenger center, secure bike facilities and private outdoor terraces on certain floors providing spectacular views of the Hudson River, Empire State Building and World Trade Center
About Flatiron Health
Flatiron Health is a healthcare technology and services company focused on accelerating cancer research and improving patient care. Our platform enables cancer researchers and care providers to learn from the experience of every patient. Currently, Flatiron partners with over 265 community cancer clinics, five major academic research centers and 13 out of the top 14 therapeutic oncology companies. Flatiron is backed by Google Ventures, First Round Capital, Roche and others. For more information, please visit www.flatiron.com or follow us @FlatironHealth.
About Stellar Management
For over 30 years Stellar Management has been one of New York City’s premier owners and operators of residential and commercial real estate – focusing on real estate acquisitions, development and property management. This vertical integration is a central tenet of the firm’s overall philosophy and enables Stellar to quality control every step of the design, development and implementation process.
With vast experience City-wide, Stellar owns and manages approximately 13,000 apartments, nearly two million square feet of office space and over 1.3 million square feet of retail. The company has increased its presence in other urban centers across the country but maintains a focus on, and its headquarters in, New York City. Notable New York City projects, past and present, include 14 Wall Street, The Milk Building, 522 Fifth Avenue, The Windermere, Embassy House, and Columbus Square.
About Imperium Capital
Imperium Capital is a New York City-based real estate investment and development company specializing in the acquisition of commercial, retail, and multi-family properties. Founded in 2010, Imperium Capital has acquired high profile assets comprised of over 1,000,000 square feet in prime New York City and Miami locations. Imperium seeks opportunities in New York City and major urban markets across the U.S. where they can add value and see upside potential. Imperium’s notable holdings include One SoHo Square, the SoHo Apple Store at 103 Prince Street, 309 West 57th Street, and the 40 Mercer Street Retail Condominium.