330 Seventh Ave.
NEW YORK CITY—BetterCloud is expanding its headquarters at 330 Seventh Ave. to 25,350 square feet. The computer operations management company signed a seven-year, 12,850 square-foot lease for the entire fourth floor. It already currently occupies the full 12,500 square-foot 14th floor, and will expand into the new space by the end of the year. The asking rent was $59 per square foot.
The 21-story building, constructed in 1929, is located in Chelsea, on Seventh Avenue between W. 28th and W. 29th streets.
Arkady Smolansky of CBRE represented BetterCloud in the transaction. Alphie Toro represented the landlord and owner GFP Real Estate. The real estate firm is an operator, property manager and developer led by Jeffrey Gural, Eric Gural and Brian Steinwurtzel.
Smolansky says they explored other options for an office move. However, they concluded that the building's scale with the landlord's flexibility in accommodating future growth and providing immediate temporary space while the new office is being built provided the best option.
“BetterCloud was also inclined to expand at 330 due to the renovated lobby, slated for completion later this year, and the ability for the brand to maintain prominent signage in the lobby and in the entryway,” he adds.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
