Nagarro, a provider of data, AI, and digital engineering services, has finalized an eight-year direct lease for its entire New York City office space at the iconic 195 Broadway building in Lower Manhattan. The company, which initially occupied the space as a subtenant starting in November 2024, will continue to utilize the full 41,854 square feet on the 25th floor of the landmark property.
Key Takeaways
- Nagarro has transitioned from a subtenant to a direct leaseholder at 195 Broadway.
- The lease agreement is for a term of eight years.
- Nagarro will occupy the entire 25th floor, totaling 41,854 square feet.
- The building, 195 Broadway, is a historic 1.1-million-square-foot office property designed by William Welles Bosworth.
A Strategic Move for Nagarro
Nagarro’s decision to sign a direct lease signifies a long-term commitment to its New York City operations. The company, known for its expertise in data, artificial intelligence, and digital engineering, will maintain its presence in a building that offers a blend of historical significance and modern amenities. The 25th floor provides ample space for its growing team and collaborative work environment.
L&L Holding Company Welcomes Long-Term Tenancy
L&L Holding Company, the owner of 195 Broadway, expressed its satisfaction with Nagarro’s decision. Tanya Grimaldo, VP of leasing at L&L, highlighted the building’s appeal, stating that Nagarro’s agreement is a testament to "historic architecture, collaborative workspace, hands-on management and an unbeatable location within the transit-rich, bustling Downtown community." This direct lease underscores the building’s attractiveness to established businesses seeking a prime Manhattan location.
The Significance of 195 Broadway
Located in the heart of Lower Manhattan, 195 Broadway is a significant architectural landmark. Designed by William Welles Bosworth, the 1.1-million-square-foot property offers a prestigious address and excellent connectivity to public transportation. Its historical character, combined with L&L’s active management, creates a desirable environment for tenants.
Representation in the Deal
L&L Holding Company was represented in the transaction by Jonathan Tootell, Tanya Grimaldo, and Giannina Brancato, all from their in-house leasing team. Nagarro was represented by Sinclair Li, Peter Shikar, and Connor DeSimone of CBRE, who facilitated the lease negotiations.