Josh Kushner’s Oscar Health doubles their office space at One Hudson Square
Before moving to One Hudson Square, the health care startup was at the Kushner Companies’ Puck Building
Joshua Kushner’s Oscar Health is doubling down in Hudson Square.
The health-care startup has signed a sublease for the fourth floor of Trinity Real Estate’s One Hudson Square and will expand with a direct lease for the fifth floor, according to Commercial Observer. It’s taking over the office that New York Magazine has been at since 2007.
Oscar already has a 10-year lease for the fourth floor of One Hudson Square, bringing its total presence in the 1.2 million-square-foot building to 160,000 square feet. The asking rent was reportedly around $80 per square foot.
While NYMag is still looking to find more affordable digs, Oscar Health plans to move in to their new office next year.
In 2018, New York State’s Empire State Development economic corporation gave Oscar $3.5 million in performance-based tax credits in return for a commitment from the company to create jobs. According to an Oscar spokeswoman, the company has been growing rapidly in New York City and needed the new space immediately.
Before One Hudson Square, also known as 75 Varick Street, the health-insurance startup spent six years at the Kushner Companies’ Puck Building in Nolita.
Oscar isn’t Joshua Kushner’s only venture. He and his brother Jared Kushner, White House adviser and son-in-law to President Donald Trump, founded real estate tech company Cadre together alongside Ryan Williams.
Meanwhile, the Hudson Square area is seeing significant interest from major companies. Disney paid $650 million for a development site for its new headquarters at 4 Hudson Square, and Google is planning a $1 billion, 1.7 million-square-foot campus for the area. [CO] — Georgia Kromrei