The Real Deal New York

MongoDB relocating to 100K sf at Paramount’s 1633 Broadway

Database startup recently launched IPO
By Rich Bockmann | November 20, 2017 06:27PM

Albert Behler and 1633 Broadway

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.

Cushman & Wakefield’s Dirk Hrobsky, Chris Helgesen, Peter Trivelas and Gary Ceder are negotiation on behalf of MongoDB. The brokers declined to comment.

Paramount’s been busy leasing space this year at the tower, inking deals for roughly 106,000 square feet with the travel company Travel Leaders and publisher Gannett for 50,000 square feet.

The Clinton Foundation in September signed a 36,000-square-foot sublease in the building with ad delivery firm Extreme Reach.