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Vise to quadruple NYC office space in 10-year Ninth Avenue lease
The AI wealth management firm is taking 11,949 square feet at 50 Ninth Avenue on a 10-year lease with asking rent of $150 per square foot.
Artificial intelligence-powered wealth management platform Vise is relocating from SoHo to 50 Ninth Avenue in the Meatpacking District, where it will quadruple its office footprint to 11,949 square feet, Commercial Observer reports.
The new space occupies the second floor across several combined historic townhomes along the Ninth Avenue frontage, featuring pitched, over 20-foot ceilings and an atrium outdoor garden. Current Real Estate Advisors represented Vise in the 10-year lease, while Newmark represented the building owner, Tavros Capital.
The reported asking rent is $150 per square foot, and Tavros Capital will build out the premises. Vise is an AI-driven platform for independent advisors founded by Samir Vasavada and Runik Mehrotra that launched in November 2019, and it currently operates in 4,000 square feet at 521 Broadway in SoHo, according to the publication.
Commercial Observer also notes that the deal was structured so a ground-floor retailer would expand upstairs to take about another 4,000 to 5,000 square feet on the West 14th Street side, helping Vise fit both its program and budget. The company’s new headquarters will overlook Ninth Avenue and sit across from the Apple store, above the new Delilah club and near the planned Annabel’s members club, the outlet reported.