Isara Laboratories has signed a 6,009-square-foot lease at 515 West 20th Street, according to Commercial Observer.
The AI company is taking space on the 6th floor and plans to move its New York team into the Chelsea building. The deal gives Isara Laboratories a new office footprint in a part of the market that continues to attract growing firms looking for a more creative, downtown feel.
515 West 20th Street is a boutique office property in West Chelsea near the High Line. Commercial Observer reported that asking rents at the building were in the high $30s per square foot, though the exact rent in this deal was not disclosed. The lease term was reported as two years.
For tenants tracking smaller, flexible office moves in Chelsea, this lease is another sign that well-located boutique buildings like 515 West 20th Street are still drawing interest from companies that want quality space without committing to a long-term deal.
Tenant: Isara Laboratories
Building: 515 West 20th Street
Floor: 6
Lease term: 2 years
SF: 6,009