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Sandstone signs 13,794 sf five-year lease at 141 East Houston Street
The deal brings Sandstone to the Lower East Side, as the 63,000-square-foot building had been about 50% occupied when owners refinanced with $79.6 million from Fortress in 2022.
An artificial intelligence-powered management platform for law firms, Sandstone, has signed a five-year office lease for 13,794 square feet across the third and fourth floors of East End Capital’s 141 East Houston Street on Manhattan’s Lower East Side, Commercial Observer reported.
Landlord broker Current Real Estate Advisors said it represented the property, while Newmark represented the tenant, which is relocating from 45 Main Street in Brooklyn. The article did not include a response from the brokerage when asked for comment.
The property is a 63,000-square-foot development built between Forsyth and Eldridge streets with Grandview Partners and Greg Kraut’s KPG Funds between 2020 and 2022, with designs by Roger Ferris + Partners.
Commercial Observer added that it was built on the site of the historic Sunshine Cinema, and that the building was around 50% full when the owners refinanced it with a $79.6 million loan from Fortress in 2022. The outlet also noted that the Flyfish Club, a private dining club that sold memberships via non-fungible tokens, signed an 11,000-square-foot lease for three stories in 2022.