The Real Deal New York

Compass inks deal for UWS office, its third in Manhattan

Brokerage signs 10-year lease at 2150 Broadway
By Katherine Clarke | January 31, 2017 05:40PM

The Laureate at 2150 Broadway and Robert Reffkin

Compass is headed due north to the Upper West Side.

The venture capital-backed brokerage firm has inked a 10-year deal for its third Manhattan office location at the Laureate, at 2150 Broadway, a company spokesperson told The Real Deal.

The 8,725-square-foot location, on the second floor of the Stahl Organization-developed condo tower, will be the company’s third in Manhattan. It currently operates its global headquarters out of 90 Fifth Avenue near Union Square and has an additional office at Lever House, at 390 Park Avenue, in Midtown.

The company, headed by CEO Robert Reffkin, also has two offices in Brooklyn, in Park Slope and in Williamsburg,

Compass’s chief revenue officer Rob Lehman said the firm had its eye on the Upper West Side for some time but made a move only after it found the “perfect space.”

The new location has space for 80 desks. Lehman declined to comment on the asking rents or on who would manage the office, which will open in the spring. Ethan Silverstein and Jim McCaffrey of Cushman & Wakefield represented Compass in the deal.

Compass, whose valuation crossed $1 billion last year after a $75 million Series D round led by Wellington Management, has thus far focused more on rolling out across markets nationwide than on opening a large collection of bricks and mortar sales offices in every New York neighborhood.

Others now seem to be emulating its strategy. Rental giant Citi Habitats has shuttered several of its retail stores in recent months in favor of consolidating in one large office space, for instance.