Stellar Management, one of New York City’s premier owners and operators of residential and commercial real estate, in partnership with Imperium Capital, today announced that Riskified – a high-growth technology company focused on preventing fraud and increasing revenue for e-commerce merchants – has signed a lease at 220Fifth Avenue. Riskified was founded in Tel Aviv and maintains an office in that city. The new space will be Riskified’s second office in New York as they relocate to accommodate their expansion.
The firm has signed a ten-year lease and will first temporarily move into a pre-built space on the building’s 13 th floor. Later in the year Riskified will permanently move into three floors in the building, totaling over 27,000 square feet. Todd P. Hershman and John Cilmi Jr. of Newmark Knight Frank (NKF) represented the tenant.
220 Fifth Avenue is currently undergoing an extensive capital improvement program and will boast a fully renovated lobby as well as updated and modernized building systems by Spring 2018. The building also features high-end, custom pre-builds for turn-key office space, making it easier for prospective tenants to visualize a well-designed and efficient layout.Vice Chairman Brian Waterman, Executive Managing Director Andrew Peretz, Senior Managing Director David Malawer, and Executive Managing Director Brent Ozarowski of NKF represented Stellar Management.
“Riskified leasing space at 220 Fifth Avenue is another example of the technology boom in the Flatiron District, also known as ‘silicon alley’,” said Adam Roman, Chief Operating Officer and a Principal at Stellar Management. “This is further evidence that Stellar’s capital improvements campaign will resonate strongly in the marketplace; the aesthetic and infrastructure upgrades make the property highly attractive to tenants who value being in a first-rate building in one of Manhattan’s premier neighborhoods.”
Riskified improves e-commerce for merchants and consumers. The company uses advanced, machine-learning models to recognize good customers and distinguish good orders from attempted fraud. Merchants using Riskified’s solution approve more legitimate orders, improve the customer experience, reduce their need for costly overhead and eliminate the cost of fraudulent chargebacks. Founded by Eido Gal and Assaf Feldman in 2013, Riskified has grown to hundreds of employees serving some of the world’s largest brands. From luxury fashion houses and retail chains to gift card and ticket marketplaces, Riskified helps merchants reduce false declines and increase revenue.
“We couldn’t be more excited to take up residence in 220 Fifth Avenue,” said Aglika Dotcheva, chief financial officer of Riskified. “It’s a beautiful building in an amazing part of the city, and we look forward to growing into our new home.”
Located on the corner of 26 th Street and Fifth Avenue, 220 Fifth Avenue is just steps from popular Manhattan attractions such as the Flatiron Building, the original Shake Shack and Eataly. Additionally, the 20-floor building overlooks Madison Square Park, providing outstanding views, light and air from every floor. The property is conveniently located just blocks away from the 6, F, M, N, R subway lines and the PATH train, making it an easy commute for tenants and visitors.
Built in 1912, 220 Fifth Avenue is located in New York City’s landmarked Flatiron District and boasts an exquisite neo-Gothic façade. The building joins an already exceptional portfolio for Stellar Management, which now totals seven commercial assets in Midtown South.
About Stellar Management
For over 30 years, Stellar Management has been one of New York City’s premier owners and operators of residential and commercial real estate – focusing on real estate acquisitions, development and property management. This vertical integration is a central tenet of the firm’s overall philosophy and enables Stellar to quality control every step of the design, development and implementation process. With vast experience city-wide, Stellar owns and manages over 13,000 apartments, nearly two million square feet of office space and 1.2 million square feet of retail. Notable New York City projects include 220 Fifth Avenue, Independence Plaza, The Windermere, Embassy House and One SoHo Square.
About Imperium Capital
Imperium Capital is a New York City-based real estate investment and development company specializing in the acquisition of commercial, retail, and multi-family properties. Founded in 2010, Imperium Capital has acquired high profile assets comprised of over 1,000,000 square feet in prime New York City and Miami locations. Imperium seeks opportunities in New York City and major urban markets across the U.S. where they can add value and see upside potential. Imperium’s notable holdings include One SoHo Square, the SoHo Apple Store at 103 Prince Street, 309 West 57th Street, and the 40 Mercer Street Retail Condominium.
About Riskified
Riskified helps eCommerce merchants approve more good orders to grow their revenue. Merchants invest huge amounts of time and money to maximize their traffic only to squander it when they turn away good customers. Even worse - most of those shoppers are gone for good.
Riskified uses proprietary, machine-learning models to recognize legitimate customers at all stages of the purchase process and guarantee those approvals from chargeback. By working with Riskified, merchants approve more good orders, reduce their fraud-management overhead and eliminate the cost of chargebacks. More than 1,000 merchants trust Riskified to review more than 1,000,000 transactions daily.
