Open-source database startup MongoDB, which has a market capitalization of roughly $1.4 billion following an October IPO, is planning on relocating its Midtown offices to Paramount Group’s 1633 Broadway, sources told The Real Deal.
The tech company has a lease out for a little more than 106,000 square feet on the 37th and 38th floors of the 48-story tower with options for expansion space, sources told TRD.
Representatives for MongoDB and Paramount were not immediately available for comment.
MongoDB is currently headquartered nearby at the former New York Times building at 229 West 43rd Street, where it’s occupied roughly 60,000 square feet since 2013. The company’s run out of room to grow in the building owned by Columbia Property Trust, a trendy tech building that’s also home to Snapchat.
A CBRE team of Paul Amrich, Howard Fiddle, Stephen Siegel, Patrice Hayden Meagher, Emily Jones and Robert Hill are handling leasing at the 2.6 million-square-foot tower for Paramount Group. The brokers couldn’t be immediately reached for comment.
The Clinton Foundation in September signed a 36,000-square-foot sublease in the building with ad delivery firm Extreme Reach.