Flip, a real estate tech firm meant to help renters sublet their apartments, has landed a 5,800-square-foot lease at 357 Grand Street in Williamsburg.
The asking price in the mixed-use building was $55 per square foot, according to a spokesperson for ABS Partners Real Estate, which helped broker the deal. The length of the lease was not immediately clear.
Flip was founded in 2016 and aims to provide a platform for tenants looking to sublet or get out of their leases, pledging to help them do so quickly and with the approval of their landlord. The firm is taking space on the ground floor, basement and outdoor patio of Patoma Partners’ 357 Grand.
The building will also be home to the eatery Gertie from restaurateur Nate Adler, which is set to open in late 2018 with 70 seats. There is one more available commercial unit in the building spanning 2,000 square feet.
Patoma Partners is constructing a similar mixed-use building nearby at 20 Marcy Avenue that will have more than 8,000 square feet of commercial space.
Ben Waller and Mark Tergesen of ABS represented the building owner, and Samantha Fishbone at SquareFoot represented Flip in the deal.