Oscar Health takes 78K sf at Trinity Real Estate’s One Hudson Square

Insurance startup is relocating from Kushner Companies’ Puck Building

TRD New York /
Jul.July 03, 2018 03:20 PM

Joshua Kushner and 75 Varick Street (Credit: Google Maps)

Oscar Health, the insurance startup co-founded by Joshua Kushner, is relocating its offices to 78,000 square feet in Hudson Square.

The company is nearly doubling its space in the move to Trinity Real Estate’s 75 Varick Street, also known as One Hudson Square, the Commercial Observer reported.

Financial terms of the seven-year lease were not available.

Oscar now occupies 39,000 square feet at the Kushner Companies’ Puck Building in Nolita at 295 Lafayette Street, where the company’s been headquartered since it got its start six years ago.

Kerry Van Voris, Oscar’s senior vice president of people, said the new office “have more space to support our employees and teams with a beautifully designed space in a terrific, central location.”

Oscar has 400 employees in New York City and expects to have 250,000 members by the end of the year. The company recently announced plans to expand to Florida, Michigan and Arizona next year, bringing its coverage to 14 markets in nine states.

New York State’s Empire State Development economic corporation is providing Oscar with $3.5 million in performance-based tax credits as part of the deal, in return for a commitment from the company to create 289 new jobs over five years.

Newmark Knight Frank’s David Falk represented Oscar in negotiations along with colleague Jason Greenstein. Falk also leads the Newmark team that handles leasing at the building on behalf of Trinity, which owns the property with Norges Bank and Hines.

Mail-order razor company Harry’s Shave last year signed a lease in the building for 60,000 square feet. [CO] – Rich Bockmann


Related Articles

arrow_forward_ios
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
Small landlords, such as Jan Lee, a New York landlord who owns two buildings, say Wall Street players will take their place unless rent relief comes soon. (Credit: Twitter; background via BRYAN R. SMITH/AFP via Getty Images)

Small landlords call for rent relief package, fearing Wall Street takeover

Small landlords call for rent relief package, fearing Wall Street takeover
Cohen Brothers Realty president and CEO Charles Cohen and Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler

Hear from billionaire Charles Cohen on today’s TRD Talk

Hear from billionaire Charles Cohen on today’s TRD Talk
Northwind's Ran Eliasaf

Northwind Group launches $220M debt fund focused on NYC

Northwind Group launches $220M debt fund focused on NYC
(Credit: iStock, Pixabay)

NY bill would let businesses take temperatures, refuse entry

NY bill would let businesses take temperatures, refuse entry
arrow_forward_ios

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

Loading...