Savills secures 34,325 s/f lease for VTS at 3 Bryant Park

Manhattan, NY Savills has secured a six-year, 34,325 s/f lease for client VTS, a leader in the commercial real estate industry’s proptech space. VTS will occupy the entire 14^th floor at 3 Bryant Park, subleasing its new office from Salesforce.

“After an exhaustive search that included several submarkets, VTS identified 3 Bryant Park, a building in its current neighborhood, and a location that will remain central for all employees, as its new home,” said Jim Wenk, vice chairman, Savills. “VTS took advantage of favorable market conditions to secure an attractive package relative to direct pricing in the asset.”

VTS plans to relocate from its former headquarters at 141 West 41^st St. in Q4 of 2023. The firm’s employees will be housed in a slightly modified and upgraded office that has existing features like high ceilings and unobstructed views of Bryant Park. VTS is currently working on a build to configure the space for the needs of its New York headquarters and provide more space, as the company has more than doubled its number of employees from pre-pandemic headcount.

Representing VTS in this transaction were Wenk of Savills, along with co-brokers Patrick Heeg of Transwestern and Sam Seiler of JLL. Salesforce was represented by Sacha Zarba, James Ackerson, and Alice Fair of CBRE.

“With an unparalleled talent pool and an extensive customer base in the region, VTS’ presence in the New York market continues to be of the utmost importance to us, and this space is indicative of our continued investment and commitment to New York,” said Nick Romito, CEO of VTS. “Our significant growth over the last few years has fueled the need for our New York-based team to occupy a larger space to best serve the needs of our employees. We were seeking an office space that reflects an innovative tech company, and Salesforce Tower – powered by the VTS Platform, was a clear choice for our new corporate headquarters.”