ElevenLabs Leases Office Space At 40 Crosby Street In Soho For $120/SF Over 10 Years

The asset involved in the transaction is an office space located at 40 Crosby Street in SoHo, NYC. The office spans a total of 11,529 square feet and was leased at a rate of $120 per square foot. The lease duration is set for ten years, resulting in a fully leased status for the building as confirmed by the landlord, KPG Funds.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $120/ft
• Square Footage: 11,529 SF
• Address: 40 Crosby Street
• Market: SoHo
• Lease Term: 10-year lease
• Landlord: Greg Kraut - KPG Funds
• Tenant: Mati Staniszewski - ElevenLabs
• Landlord's Rep: David Malawer - Newmark
• Tenant's Rep: Jason Majlessi - Venture Commercial

The transaction features key individuals such as Greg Kraut representing KPG Funds as the landlord, while Mati Staniszewski represents ElevenLabs as the tenant. The landlord’s interests were managed by David Malawer from Newmark, and the tenant was represented by Jason Majlessi from Venture Commercial, contributing to the successful leasing of the space.