Ben Uretsky’s cloud computing company DigitalOcean has signed to lease space at Edward Minskoff’s office building 101 Sixth Avenue in Manhattan, according to The Real Deal. The building is now 95% occupied.
DigitalOcean will occupy 23, 500 square feet of office space in the building including the entire eleventh floor and part of the tenth floor. The firm will move from its current offices located at 270 Lafayette Street.
The move was prompted by the company’s need for more space as it says that its number of employees has tripled in the past year.
Located in lower Manhattan, 101 Sixth Avenue between Watts and Grand Streets, also known as the Services Employees International Union building, has 25 stories and a total of 425, 000 square feet of space. It is 325 feet tall and is home to the New York Genome Center.
It was built in 1990 for just one tenant, the Services Employees International Union, which vacated it in 2011, at which time Minskoff bought out the property’s majority owner the Andalex Group.
Minskoff spent up to $40 million renovating the building. As he told The Real Deal, “We made the decision that we were going to gut everything except the four outer walls.”
DigitalOcean joins Huntsworth Health, a public relations and marketing firm that specializes in the health care industry, which signed a ten year lease there earlier this month. That company took the building’s entire 13th floor, for a total of 15, 600 square feet of space.
The hedge fund Two Sigma Investments signed a lease for 60, 000 square feet there in July.
Minskoff told Crain’s that all of these new tenants justify the money that he spent on the office building saying, “”Deals like Two Sigma and Huntsworth show that we’ve been attracting a great mix of tenants here. It’s a cool neighborhood and after all the work we’ve put in, it’s got all the bells and whistles.”
DigitalOcean boasts that it has, “created the fastest and most convenient cloud technology to help you easily and more efficiently manage your infrastructure so you can get back to coding.”