PayPal’s Peter Thiel brings venture capital firm to NYC

TRD New York /
Nov.November 21, 2013 06:15 PM

Intrigued by the burgeoning New York City tech scene, a global venture capital firm run by a co-founder of PayPal has inked a lease for its first office in the city – and on the East Coast – according to ABS Partners Real Estate, which represented the landlord in the deal.

Peter Thiel’s San Francisco-based Valar Ventures will take nearly 2,800 square feet over the course of five years at 915 Broadway.

The office building, at 21st Street near Union Square, had asking rents reportedly in the $50s per square foot. CBRE brokers Michael Hirsch and Sacha Zarba represented Valar, while ABS Partners brokers Carol Sacks, Alex Kaskel and Jay Caseley represented 915 Broadway Associates LLC.

Over the summer, the Pacific College of Oriental Medicine left 915 Broadway for 110 William Street, as previously reported.

In 2011, a subsidiary of venture capital firm Founders Fund, of which Thiel is a partner, purchased the Bacchus House, a six-bedroom townhouse at 40 West 10th Street for $20 million. — Mark Maurer


Related Articles

arrow_forward_ios
(Getty)

Manhattan retail asking rents fall to nine-year low

Manhattan retail asking rents fall to nine-year low
MetLife Building and Matt Van Buren, CBRE’s tri-state president (Getty, CBRE)

CBRE closes 2 offices, expands presence at MetLife HQ

CBRE closes 2 offices, expands presence at MetLife HQ
Clockwise:  CBRE's Michael Remer, Richard Hodos and Joel Stephen with the Wizarding World Building at 935 Broadway (Images via CBRE)

CBRE’s Hodos and other Muggles win REBNY award for Harry Potter deal

CBRE’s Hodos and other Muggles win REBNY award for Harry Potter deal
(iStock)

Look out below: Major real estate services firms brace for falling earnings

Look out below: Major real estate services firms brace for falling earnings
Brookfield Property Partners' Brian Kingston, Silverstein Properties' Larry Silverstein and Empire State Realty Trust's Anthony Malkin (Getty)

Real estate firms lead cautious return to NYC offices

Real estate firms lead cautious return to NYC offices
Hana CEO Andrew Kupiec, The Real Deal's Hiten Samtani and Hana's EVP of Occupier Solutions Georgia Collins

The REInterview: How flex space could upend supply-demand dynamics in the office market

The REInterview: How flex space could upend supply-demand dynamics in the office market
Matthew James (Credit: ABC)

First black “Bachelor” for ABC comes from real estate world

First black “Bachelor” for ABC comes from real estate world
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...