Genovesi and Harte of Savills Studley arrange 22,000 s/f lease to HelloFresh

Manhattan, NY Savills Studley, a leading commercial real estate firm specializing in tenant representation, has arranged a 22,000 s/f lease for meal kit delivery company HelloFresh at 40 West 25^th Street in the Flatiron District. HelloFresh will occupy two full floors in the 12-story, 135,000 s/f building located between Broadway and Sixth Ave. As part of the transaction, Savills Studley was able to negotiate capital improvements for build out, and most importantly, create flexible options to mirror the strategic growth goals of this dynamic company. Savills Studley executive managing director Joseph Genovesi and associate director John Harte represented the tenant in the 10-year transaction. “The area surrounding 40 West 25^th St. is arguably Manhattan’s hippest neighborhood. The outstanding amenities, convenient access to transportation and easy access to Madison Square Park making it an ideal spot for a growing creative company like HelloFresh,” Genovesi said. “We were able to structure a favorable transaction, along with building ownership, which allows HelloFresh to create state-of-the-art collaborative office spaces, as well as a unique amenity for a Manhattan office building: a custom working kitchen.” Founded in November 2011 and based in Berlin, HelloFresh currently operates in the UK, Germany, Austria, the Netherlands, Belgium, Australia and the US. In addition to the company’s new Flatiron District offices in New York, the company has offices in London, Amsterdam and Sydney. Paul Kotcher and Jordan Plesser of Brickman represented the landlord; asking rents were in the high $60s per s/f range.