Battery Ventures, a global investment firm, secured a five-year lease spanning 10,600 square feet on the third floor of 100-104 Fifth Avenue in the Flatiron District. The deal, with an asking rent of $95 per square foot, signifies the firm’s relocation from its current office at 636 Avenue of the Americas to the new address early next year.
The former landlord, Clarion Partners, purchased the 20-story building ten years ago for $230 million but sold it this fall to Sovereign Partners for $126.5 million, facing a substantial loss. Located at Fifth Avenue and 15th Street, the building stands seven blocks south of the iconic Flatiron Building and a block west of Union Square.
Newmark’s Eric Cagner and Leo Koné facilitated the lease for Battery Ventures, while the Kaufman Organization’s Grant Greenspan represented Sovereign Partners.