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Durst Secures Lease for Genius Sports Headquarters at 825 Third Ave.

| Commercial Real Estate News, Deals, Featured, Leasing, Office| Views: 0

Genius Sports will be moving to its new headquarters in New York City after reaching an agreement for a lease deal at 825 Third Ave. Specifically, the sports data and tech company is set to occupy a pre-built, 11,900-square-foot prime Midtown office space at The Durst Organization-owned property as it moves on from its current location at a Convene coworking site in the Financial District.

Tom Bow, Ashlea Aaron, Lauren Ferrentino and Bailey Caliban handled the negotiations in-house on behalf of Durst, while a Newmark team made up of Joshua Berg and A.J. Dorn represented Genius Sports. The asking rent was $102 per square foot.

Recently, Durst completed a $150 million renovation at its 530,000-square-foot office tower, which included upgrades to the building’s lobby, the addition of a new tenant amenity space, and the installation of smart windows that adjust the amount of light that comes in via the use of artificial intelligence.

“Genius Sports, like many companies, is drawn to 825 for its ideal location; modern, fully renovated offices; and the brand-new amenity floor that offers indoor and outdoor spaces for tenants to work, host events and socialize,” Aaron said. “Genius Sports also chose the building because we were able to deliver a fully move-in ready space through our DurstReady program. They arrived at the building to a beautiful, fully furnished, fully wired office custom-built for their team.”

“825 Third Ave. is being modernized from top to bottom, and its transformation into a trophy asset is nearing completion,” Jonathan (Jody) Durst, president of The Durst Organization, said. “Genius Sports is in good company at 825, joining tenants that have pre-leased more than 100,000 square feet of space in just the past two months.”

The tenant roster at 825 Third Ave. already includes names such as Toyota Tsusho America, the National Bank of Egypt, and law firm Beveridge & Diamond.

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