Manhattan, NY Newmark Knight Frank (NKF) and full-service commercial real estate brokerage Lee & Associates NYC (Lee NYC) have arranged a 68,760 s/f sublease on the entire 11th and 12th floors at 229 West 43rd St., between Seventh and Eighth Aves., for the office of Fareportal, a technology company that combines award-winning digital front-end mobile apps and websites integrated with one of the largest traditional travel agencies in order to guarantee the best deals for its customers. The transaction was led by executive managing director Robert Silver from NKF and Corey Abdo, executive managing director/principal, at Lee NYC, with assistance from managing director Scott Brown from NKF.
The sublandlord, Verizon Wireless, was represented by Ron Lo Russo, Drew Braver, Matthias Li and Jessica Loiacono, all of Cushman & Wakefield. The building owner is Columbia Property Trust.
Fareportal is relocating its headquarters from 135 West 50th St., where they are housed in 45,000 s/f, the new headquarters footprint represents a 53% increase in space.
“An ideal fit for the demands of a rapidly growing technology company, the high-end space is complete with oversized windows, ample natural light and high ceilings, ,” said Silver. “In this modern, but historically significant building, Fareportal will be able to work and collaborate creatively, finding more opportunities for growth through its strong new workspace.”
“I have represented Fareportal for more than 10 years and their success has continued to necessitate more space,” said Abdo. “With 375 employees in the New York City office, the Fareportal team sought an office with top-of-the-line amenities, which is exactly what we found them. 229 West 43rd St. boasts a 10,000 s/f outdoor roof deck, 16-ft. ceilings and a combination of glass offices and conference rooms in addition to a partial open floor plan.”