Two nonprofit-related tenants are moving to an office just west of Manhattan\u2019s Union Square.<\/p>\n
In the largest deal, the Chan Zuckerberg Biohub<\/a>, better known simply as Biohub, secured a 10,666-square-foot lease at Sovereign Partners<\/a>\u2019 100-104 Fifth Avenue, Commercial Observer has learned.\u00a0<\/p>\n SEE ALSO: Law Firm Nutter Expands to 11K SF at Durst\u2019s 5 Grand Central East<\/a><\/p>\n The nonprofit biomedical research organization will occupy the entire ninth floor of the 20-story tower at the southwest corner of Fifth Avenue and West 15th Street, according to sources. The building is one block west of Union Square.<\/p>\n Biohub was founded in 2016 by Mark Zuckerberg and Priscilla Chan, with the goal to cure, prevent and manage human diseases. The company currently lists offices and a research laboratory at Columbia University\u2019s Studebaker Building at 615 West 131st Street. Sources said the move marks a relocation from a Biohub office near Union Square, but no address in the neighborhood was found.<\/p>\n Biohub was represented by Newmark<\/a>\u2019s David Falk, Mike Courson and Dylan Weisman. Falk also represented Sovereign Partners alongside Daniel Levine and Paige Raisides. A spokesperson for Newmark did not respond to a request for comment on the transaction.\u00a0<\/p>\n The nonprofit will be in good company at the Fifth Avenue office tower. Fundraise Up<\/a>, a fundraising platform designed for nonprofit organizations, has signed its own lease at the building.\u00a0<\/p>\n Fundraise Up took 9,522 square feet across the entire seventh floor, in a relocation from 219 36th Street in Brooklyn\u2019s Industry City complex.<\/p>\n The lease terms for both of the recent deals were not disclosed, but asking rents in the building range from $110 to $150 per square foot, according to the source.\u00a0<\/p>\n Cushman & Wakefield<\/a>\u2019s David Hoffman, Sam Hoffman and Louden Sheehan negotiated the lease on behalf of Fundraise Up. The same Newmark team represented the landlord.\u00a0\u00a0<\/p>\n Spokespeople for Newmark and Cushman & Wakefield did not immediately respond to\u00a0 requests for comment.<\/p>\n The two leases bring 100\u2013104 Fifth Avenue \u2014 which comprises two adjoining buildings \u2014 to 100 percent capacity. Other tenants include fintech firm<\/a> Accrue Savings and investment firm<\/a> Battery Ventures.\u00a0<\/p>\n Spokespeople for Sovereign Partners, Biohub and Fundraise Up did not immediately respond to requests for comment.<\/p>\n