NEW YORK—10gen, a developer of open source database MongoDB, has signed a 29,391-sq.-ft. lease at 229 West 43rd Street in New York City. Studley Executive Managing Director Greg Taubin and Associate Gabe Marans represented the tenant in the transaction. The Studley team worked with Blackstone’s Equity Office affiliate’s Adam Goldenberg and Josh Glick.
When 10gen moves to its new space, it will occupy nearly half of the fifth floor at 229 West 43rd Street, which was the former home to the New York Times. Previously, the tech firm occupied approximately 14,000 sq. ft. at 578 Broadway.
“The real estate process we implemented for 10gen began 11 months ago and included two separate lease negotiations with 229 West 43rd Street,” said Taubin. “The final transaction includes the salient lease factors a growing technology tenant requires such as a shorter than 10-year lease term, contiguous expansion options along with contraction options and a generous concession package to help offset a large portion of the upfront capital expenditures.”
The property features high ceilings and close proximity to mass transportation.