Fintech Startup Stash Financial Takes 12,000 SF in Chelsea’s 641 Avenue of the Americas

Fintech Startup Stash Financial Takes 12,000 SF in Chelsea’s 641 Avenue of the Americas

Digital investing platform Stash Financial has committed to roughly 12,322 square feet of office space at 641 Avenue of the Americas, an eight-story Beaux Arts building in Manhattan’s Chelsea corridor owned by Spear Street Capital, according to a new report.

The deal, signed in mid-August, gives the personal finance and micro-investing company part of the property’s sixth floor, which totals about 22,000 square feet. The asking rent stood at $98 per square foot, though the length of the lease was not disclosed. Stash is expected to relocate from a WeWork location at 450 Park Avenue South, although the timing of the move remains unclear.

Brokerage representation split along familiar lines: Newmark’s Jason Greenstein and Jonathan Franzel acted for the landlord, while CBRE’s Paul Amrich, Neil King, Meghan Allen and Zach Price advised the tenant. Newmark declined to comment, and neither Stash nor CBRE responded immediately to requests for comment.

The transaction lands amid a competitive landscape for office landlords in Midtown South, where leasing activity has been anchored by tenants in technology and financial services — sectors that match both Stash and existing building occupants. DSM-Firmenich, the fragrance company, and cloud software firm Infor already occupy space at 641 Avenue of the Americas, which sits between West 19th and West 20th Streets.

For the brokerages involved, the deal adds to a steady pipeline of New York office transactions. CBRE, which operates through advisory, building operations, project management and investment divisions, saw shares trade at $143.56, down 0.62% from a previous close of $144.46, valuing the company at roughly $43.7 billion.

Stash’s shift from a flexible coworking space to a traditional direct lease mirrors a broader pattern of maturing startups trading coworking memberships for dedicated offices as hybrid work policies stabilize and landlords offer concessions in select submarkets.

What to watch

• Confirmation of the lease term and move-in date, neither of which was disclosed.
• Further leasing announcements at 641 Avenue of the Americas, where the remaining sixth-floor space is still available.
• Upcoming earnings from CBRE and Newmark, which may detail New York office leasing trends.

Source: original release