- Flatiron Health will be leaving the Flatiron neighbourhood in New York in spring 2018.
- The $US1.2 billion company is moving into a 108,000 square-foot space at One SoHo Square, a space that’s almost twice the size of its current office at 200 Fifth Ave.
- Along with the move, Flatiron will get $US6 million in performance-based tax credits.
Flatiron Health, a New York-based healthcare technology startup, is moving.
The $US1.2 billion company is relocating its headquarters in spring 2018 from the Flatiron neighbourhood to One SoHo Square, a building that’s also home to Warby Parker and Glossier. The 108,000 square-foot space is almost twice the size of Flatiron’s current office.
As part of the move, Flatiron will get $US6 million in performance-based tax credits and has plans to create more than 300 jobs over the next five years.
“Companies like Flatiron Health create quality jobs and spur rapid advancement in New York’s growing healthcare and technology industries,” Empire State Development CEO Howard Zemsky said in a statement. “Flatiron’s expansion will broaden our understanding of cancer research and patient care and support the state’s cutting edge life sciences sector.”
Flatiron was represented by real estate brokers at Savills Studley in the deal, while the building’s owners were represented by Newmark Knight Frank represented the building’s owners Stellar Management and Imperium Capital.
Zev Holzman, senior managing director at Savills Studley, represented Flatiron on the deal and on past deals as the company’s grown from a 3,000 square-foot space to now 108,000. Holzman told Business Insider that throughout the yearlong process of searching for a new building, Flatiron looked all around Manhattan, but it ultimately moved back to SoHo, the neighbourhood where the company got its start.
“It made sense for this iteration,” Holzman said, as the company started laying down more permanent roots.
Flatiron uses technology to collect clinical data from cancer patients.With that information, such as details on what medications patients have taken and how they have responded to them over the course of treatment, the hope is that healthcare professionals can have a better idea of how cancer drugs work in the “real world” in hospitals and cancer centres as opposed to during clinical trials. The company has raised more than $US300 million from investors including GV and the pharmaceutical giant Roche.
“The move to the new office – almost double our current size – gives us the much needed flexibility to grow our team working to accelerate cancer research in the months and years to come,” Flatiron CEO Nat Turner said in a news release.