CompStak Announces New Headquarters Lease in NYC, More than Doubling its NYC Footprint

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- CompStak, the leading national commercial real estate data and analytics platform, is excited to announce the move from its long-time home in Cooper Square into a new, larger office of 25,644 square feet at 675 Avenue of the Americas. This move is motivated by CompStak's rapid team growth, fueled by increased adoption of CompStak's CRE data products, and its $50M Series C round last year.

When CompStak was launched in 2012, the company set out to bring transparency to commercial real estate deal making. To continue providing high quality data that CompStak users trust, the company has grown rapidly with a total of over 170 team members globally. CompStak's new NYC HQ is the latest in its office space expansion, having opened new, larger offices in Belgrade, LA, Chicago, and Atlanta in the past 12 months. This expansion represents the beginning of CompStak's next chapter as the company sets its sight on becoming the leader in commercial real estate data, powered by crowdsourcing and made in partnership with the CRE industry.

As many companies, particularly in the tech space, have chosen to go fully remote in the past few years, CompStak has bucked this trend, having brought its teams back to its offices over a year ago. CompStak is hiring new talent across all departments to help expand its product offerings and customer reach. CompStak is proud that its vision of better, more accountable commercial real estate data resonates with its users and clients and has allowed the company to continue to grow, even in a tough economic environment.

Michael Mandel, CompStak's Co-Founder & CEO commenting on CompStak's office first culture, added. "For CompStak, our time in the office is key to maintaining the culture that makes CompStak special. It's where we maintain the environment, rituals, and collaboration that ensure clear communication and transparency across our organization. More importantly, our office is fun.  It's a place where we build positive working relationships, friendships and deeper connections to each other.  We've increased our office footprint, to ensure that we have everything we need for our team to feel comfortable at work as we grow. I feel strongly that if CompStak is going to expect our team to be back in the office, we have to make the office a place where they want to be. The move to 675 Avenue of the Americas, does all of this for us. We have an abundance of conference rooms for collaboration, a fully stocked kitchen with food and drinks, a gym for a quick workout, and private bathrooms with a shower that makes the office feel like an extension of the home. We even added the "Squeakers Provision" to our lease to allow for our team members to bring their dogs to work."

Diving deeper into the office move topic, CompStak published a new report Trading Up: Snapshot of Post Pandemic Relocations based on CompStak data starting from the COVID-19 pandemic and onwards. The report focuses on analyzing relocation trends with a special highlight on TAMI and FIRE tenants as many organizations have reevaluated their views on office space during the pandemic. CompStak's data shows that 63% of tenants moved from one Class A building to another and 13.4% upgraded their spaces from Class B to Class A buildings, even more apparent within TAMI organizations. These findings correlate with the emerging "flight to quality trend" noticeable amongst many tenants. Additionally, the majority of tenants relocated to more recently built properties, and some tenants decided to move to newer constructions.

Link to embed: https://infogram.com/office-class-share-tami-vs-fire-1h984wo7w3xnd6p?live

Jeff Gural, chairman and principal of GFP Real Estate—and Anthony Sciacca, Brittany Silver, Robert Silver and Jamie Jacobs of Newmark—represented the landlord, GFP Real Estate, in the five-year transaction; Todd Hershman of Newmark represented the tenant, CompStak.

CompStak is a commercial real estate data and analytics platform leveraging crowdsourced commercial lease and sale transaction data and property information combined with AI driven analytics. CompStak's 30,000+ members provide data covering the entire US, and its paying customers include the world's largest real estate investors and lenders like Wells Fargo, Tishman Speyer, AEW, CIM, Moody's and many more. For more information, visit www.CompStak.com.

Rotem Eshed, VP Marketing at CompStak
[email protected]

SOURCE CompStak