A Los Angeles-based luxury residential brokerage at the center of Netflix’s television series “Buying Beverly Hills” is opening its first New York City office in Greenwich Village, Commercial Observer has learned.
The Agency signed a 10-year lease for 8,551 square feet across the entire third floor of 88 University Place, with plans to open shop in March, according to a spokesperson for landlord Arch Companies.
The Agency scored a foothold on the East Coast when it bought New York City-based real estate firm Triplemint in May, and plans to use the new office to host Triplemint staffers and grow its business, with broker Molly Townsend leading the New York team, said The Agency founder Mauricio Umansky.
“I think there are tremendous opportunities in New York right now,” Umansky said. “We’re expanding and growing and taking on leases when everybody else is contracting, which I think gives us the opportunity for growth and to create something important in Manhattan.”
At the time, former WeWork CEO Adam Neumann owned a 50 percent stake in the 11-story property. A spokesperson for Arch declined to comment on whether Neumann is still involved, and a representative for Neumann did not immediately respond to a request for comment.
Since IBM’s departure, a handful of companies linked to Neumann have taken space at the building between East 11th and East 12th streets.
Currently leasing space at 88 University Place are mortgage provider Valon Technologies, which scored an investment from Neumann in 2021; Flowbcarbon the carbon offset company co-founded by Neumann; and Carson Living, Neumann’s residential property management app.
“Our team is thrilled with the level of leasing activity since our initial launch,” Seiler said in a statement. “The overall design of the building and level of finishes speaks to what tenants are looking for in today’s market.”
A Los Angeles-based luxury residential brokerage at the center of Netflix’s television series “Buying Beverly Hills” is opening its first New York City office in Greenwich Village, Commercial Observer has learned. The Agency signed a 10-year lease for 8,551 square feet across the entire third floor of 88 University Place, with plans to open shopRead MoreChannel, Leases, Office, 88 University Place, Adam Neumann, Arch Companies, Carson Living, Flowcarbon, IBM, JLL, Joseph Sipala, Kristen Morgan, Mauricio Umansky, Netflix, Sam Seiler, Savills, Scott Bogetti, The Agency, TripleMint, Valon Technologies, WeWork Commercial Observer Read More
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
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