Newmark Grubb Knight Frank (NGKF) secured a 10-year, 11,600 s/f lease for Karhoo’s headquarters location at 386 Park Avenue South.
President New York Tri-State Region David Falk, Senior Managing Director Eric Cagner and Associates Alex Leopold and Jon Franzel represented the landlord HSR Corp. in the transaction.
Upgrading from its temporary New York office in Tribeca, Karhoo’s new location at 386 Park Avenue South will function as the company’s global headquarters.
A start-up founded by British entrepreneur Daniel Ishag, Karhoo is an e-hailing service with partners with taxi fleets and car services.
According to the new York Business Journal, the service managed to raise $250 million and has plans to raise another $1 billion this year, when it officially launches in New York.
“HSRC sees every lease as a partnership not just a tenancy. Karhoo is a great addition to the building and further strengthens 386 Park Ave South’s brand image. Along with our neighbors, we continue to secure Park Ave South as NYC’s tech and media hub,” said Harvey Fung, a prinicapl of HSRC. HSRC is headed by its William Fung, Harvey Fung and Vincent Fung.
“We have proactively built out full floors to relieve the tenant of the responsibility and make the process more convenient,” said Cagner.
“We are thrilled to have a tenant like Karhoo join the roster at 386 Park Avenue South. The company truly complements the direction in which we have taken the building and they are a terrific addition to our existing creative tenant base.
Karhoo was represented by Executive Managing Director/Principal Dennis Someck and Managing Director Justin Myers of Lee & Associates.
Source: Real Estate Weekly