Intuit has signed a lease to expand its footprint at mixed-use office site 51 Astor Place in East Village.
The 10-year deal will give the software firm, known for its finance brands, including TurboTax and Credit Karma, another 77,000 square feet at the property. Intuit will occupy floors five through seven, along with retail space on the ground floor, for a total of 115,000 square feet. The fifth floor stands out with its floor-to-ceiling windows, a terrace, and an experiential center. Currently, Intuit operates only the full third floor at 51 Astor.
The property, which is owned by developer Edward J. Minskoff Equities (EJME), spans 400,000 square feet. A range of retailers and restaurants can be found be found there, including CVS, Shake Shack, and an Orangetheory Fitness.
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JLL represented EJME on the deal.
“51 Astor Place is a market-leading asset with best-in-class ownership and the highest-quality tenant services and amenities,” said Paul N. Glickman, international director and vice chairman at JLL's New York office, in a statement.
“This is an ideal property for employers seeking to attract and engage talent in a competitive market.”
The move comes as Manhattan's office sector is continuing to thrive after the slowdown caused by the pandemic. A recent report from Avison Young revealed that availability in the first quarter tumbled by 240 basis points year-over-year to 17.3 percent, which marked the lowest level in five years. Also, leasing shot up by 20.8 percent to reach 10.1 million square feet.
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