NEW YORK CITY—RFR Realty has inked a 140,000-square-foot lease renewal and expansion with IPsoft at 17 State St. in Lower Manhattan. The artificial intelligence company, which previously occupied 97,955 square feet, expanded by another 41,687 square feet on floors 16, 19 and 20 of the 42-story office building.
Rob Lowe of Cushman & Wakefield acted on behalf of the tenant. AJ Camhi, director of leasing at RFR Realty, along with Mitch Konsker and a team from JLL, represented the landlord.
Since acquiring the property, RFR has executed a capital improvement program that included elevator modernization and aesthetic improvements to the corridors, lobby, public art plaza and high-end pre-built program.
The property is close to multiple subway lines, ferries to Staten Island and New Jersey, the New York Water Taxi and the Downtown Heliport. It also boasts views of New York Harbor, the Statue of Liberty and Battery Park.
IPsoft was founded by Chetan Dube, who has served as president and CEO since the firm's inception in 1998. It has developed an artificial intelligence called Amelia which is a competitor to IBM's Watson and Apple's Siri. IPsoft is used by seven out of 10 of the world's largest IT service providers to power their service and is used by two out of 10 Fortune 100 companies.
Clients include Deloitte, Cisco and Accenture. IPsoft has 18 offices around the world including Chicago, San Francisco, London, Frankfurt, Stockholm, Tokyo, Singapore and Sydney. 17 State Street serves as its global headquarters.
“IPsoft has experienced tremendous growth and success during its tenancy at 17 State, and we are pleased they have committed to a long-term partnership in an expanded footprint within the property,” says Camhi. “IPsoft is a leader in artificial intelligence technology and chose to remain in 17 State for its excellent location, Class A property prestige, and breathtaking views.”
GlobeSt.com was unable at press time to get further comment from parties to the deal.
Rob Lowe of Cushman & Wakefield acted on behalf of the tenant. AJ Camhi, director of leasing at RFR Realty, along with Mitch Konsker and a team from JLL, represented the landlord.
Since acquiring the property, RFR has executed a capital improvement program that included elevator modernization and aesthetic improvements to the corridors, lobby, public art plaza and high-end pre-built program.
The property is close to multiple subway lines, ferries to Staten Island and New Jersey, the
IPsoft was founded by Chetan Dube, who has served as president and CEO since the firm's inception in 1998. It has developed an artificial intelligence called Amelia which is a competitor to IBM's Watson and
Clients include
“IPsoft has experienced tremendous growth and success during its tenancy at 17 State, and we are pleased they have committed to a long-term partnership in an expanded footprint within the property,” says Camhi. “IPsoft is a leader in artificial intelligence technology and chose to remain in 17 State for its excellent location, Class A property prestige, and breathtaking views.”
GlobeSt.com was unable at press time to get further comment from parties to the deal.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
