JLL completes two leases for pre-built space at repositioned Flatiron property

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JLL has completed two leases totaling approximately 7,000 square feet of space at 27 West 24 th Street in Manhattan’s Flatiron neighborhood on behalf of ownership, MJ Orbach Associates.

Zebra, an international design and architecture firm whose clients include West Elm, Shake Shack and P.F. Chang’s, signed a lease for 3,000 square feet of pre-built office space on the sixth floor of the property.

Moonfare, a leading digital private equity investment platform, leased 3,400 square feet of pre-built space on the eighth floor.

27 West 24th Street is an 11-story, 126,000-square-foot commercial office building adjacent to Madison Square Park in the heart of Manhattan’s Silicon Alley, an area that has enjoyed a surge in popularity among creative and tech tenants ranging from file-sharing giant Dropbox to tech behemoth Microsoft. The area has superior mass transit options and abundant restaurants, gyms, retail and entertainment options, ranging from Eataly and the Dominique Ansel Bakery to Harry Potter New York and The Friends Experience.

MJ Orbach recently completed a major repositioning of the property that included upgrades to the lobby, elevator cabs, common corridors, bathrooms and building infrastructure. There are two passenger elevators, two freight elevators with separate entrance, lobby attendant, on-site building maintenance as well as 24/7 Key Card Access.

Working with ownership, JLL launched a new high-end pre-built program at the property in the fall of
2021 and has seen significant momentum among tenants seeking premier, move-in ready space in a
vibrant neighborhood. The JLL leasing team is currently negotiating with several additional tenants looking to secure space.

The JLL team of Sam Seiler, Joe Sipala and Courtney Oarr represented Orbach in transactions. Zebra was represented by Jake Velazquez with Compass, and Moonfare was represented by Ben Saftler with Squarefoot.

“MJ Orbach Associates has invested to thoughtfully transform this property to meet the current needs of tenants,” said Sipala. “Additional move-in ready pre-built spaces are underway on partial and full-floors positioning the building to accommodate companies seeking 3,000- to 20,000-square-feet of loft-style creative space that offer growth and flexibility.”

“27 West 24th Street is an ideal solution for boutique companies committed to creating an environment that engages and energizes employees,” said Michael Orbach, founder of MJ Orbach Associates. “The building’s location within the Flatiron District, only steps from Nomad and Chelsea, provide a highly attractive destination at a time of increased competition for top talent.”

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

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