Fintech Giant Expansion in NYC
Introduction to Chime’s Move
San Francisco-based Chime’s new lease at Bromley Companies’ 122 Fifth Ave., which the fintech giant announced last week, marks the latest growth of its Big Apple footprint.
Chime will move to 84,000 square feet from a smaller space at 101 Greenwich St. The company also has space in Midtown.
Lease Details
Rent and Representation
The asking rent at 122 Fifth was $96 per square foot, according to Newmark which represented the landlord. Cresa repped the tenant. The asking rent at 122 Fifth was $96 per square foot. Google Maps
Building Overview
Current State and Tenants
The 300,000 square-foot Flatiron building is more than 90% leased following a $100 million improvement and repositioning. Microsoft is the largest tenant.
Statement from Bromley CEO
Confidence in the Space
Bromley CEO Nicholas Haines said, “We were confident that a tech company like Chime would be attracted to our reinvention of 122 Fifth with state of the art loft office space, wellness features and our water tower terrace roof.”
Conclusion
Chime’s move to a larger space on Fifth Avenue signifies the fintech giant’s commitment to expanding its presence in New York City. The choice of 122 Fifth Ave. highlights the appeal of the building’s renovated spaces and amenities to tech companies. As the fintech sector continues to grow, such moves are indicative of the evolving landscape of business in NYC.
FAQs
General Questions
- Where is Chime moving to?
- Chime is moving to 122 Fifth Ave. in NYC.
- How much space is Chime leasing?
- Chime is leasing 84,000 square feet.
- What was the asking rent for the space?
- The asking rent was $96 per square foot.
- Who are the significant tenants in the building?
- Microsoft is the largest tenant, and now Chime is joining as well.
- What renovations have been made to the building?
- The building underwent a $100 million improvement and repositioning, including state-of-the-art loft office space, wellness features, and a water tower terrace roof.
