Although terms of the deal were not disclosed, asking rents for comparable space in the vicinity averaged $51.24 at the end of April.

"This is an international firm that wanted to be headquartered in a premier area of Manhattan, close to its clients, and selected an opportune time and vehicle to make the best deal possible," says Noonan. He notes that, according to Cushman & Wakefield research, at least 120 companies Broadview could do business with are within walking distance of the new headquarters. "With its global operations and network, it's very important to have an address recognized by business decision makers around the world." He adds that the location was also convenient for employees who commute from New Jersey.

"This move will give us greater proximity to our clients and the venture capital community, the key driver of growth in the technology business," notes Broadview International president Alec Ellison.