The 3D-printing firm Shapeways has signed a 10-year, 9,050-square-foot renewal and expansion at 419 Park Avenue South, the New York Observer reported.
Shapeways moved into the building two years ago and upped its original occupancy by more than 1,000 square feet in December of last year before adding an additional 3,950 square feet in the latest amendment to the lease.
This new lease gives the rapidly growing company a full ninth floor presence. It also includes expansion rights for two additional floors. Steven Blair Strati of Cushman & Wakefield, who represented the tenant, said added that although asking rents were $55 per square foot, a better deal was made.
3D printing enables designers to design a digital model and turn those models into a tangible creation. The technology has been used in a range of industries from aerospace to jewelry-making.
Shapeways allows consumers to design a digital model, select materials and after a series of steps on the firm’s website can have the 3D-printed creation delivered to their door.
The 20-story building at East 29th Street is roughly 160,000 square feet. Among other tenants in the building is Grind, a co-working space that opened its doors back in 2011.
Landlord Walter & Samuels was represented in-house by Jim Gladstone. [NYO] – James Comtois