The Real Deal New York

Software firm Numerix takes Collective’s space at 99 Park

Sublease deal worked out ahead of online ad network's move to 229 West 43rd St.

September 09, 2014 03:58PM
By Hiten Samtani

99 Park Avenue (Credit: CoStar Group)

99 Park Avenue (Credit: CoStar Group)

Risk management software company Numerix is taking 31,615 square feet at Eastgate Realty’s 99 Park Avenue, The Real Deal has learned. Numerix is taking space formerly occupied by online advertising network Collective.

In the sublease deal, Numerix will pay rents starting in the low $40s per square foot for its fifth floor space at the 26-story, 640,000-square-foot building, located between 39th and 40th streets.

That’s in line with what Collective is paying for the space, according to CompStak data. Collective inked a 58,000-square-foot lease earlier this year at Equity Office’s 229 West 43rd Street, as TRD reported. Equity Office is a unit of the Blackstone Group.

Collective was represented in the sublease deal by Cassidy Turley’s Richard Bernstein, Daniel Thompson and Harry Krausman, according to a source familiar with the transaction. It is unclear who represented Numerix. The brokers were unavailable for comment.

Eastgate Realty is controlled by Sammy and Eyal Ofer, who are affiliated with Israeli shipping enterprise OSL Shipping.

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