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Stash Financial signed a 12,322-square-foot lease at 641 Avenue of the Americas in Chelsea, taking part of the building’s sixth floor. The deal, signed in mid‑August, carries an asking rent of $98 per square foot and moves Stash out of its WeWork location at 450 Park Avenue South. The sixth floor spans 22,000 square feet, so the new space covers roughly 56 percent of that floor. Amanda Schiavo reported the transaction on September 2, 2026, as first reported by Commercial Observer.
Key takeaways
- Stash Financial signed a 12,322-square-foot lease at 641 Avenue of the Americas.
- The lease was signed in mid‑August for space on part of the building’s sixth floor, which totals 22,000 square feet.
- The asking rent on the deal was $98 per square foot.
- Jason Greenstein and Jonathan Franzel of Newmark represented the landlord; Paul Amrich, Neil King, Meghan Allen and Zach Price represented Stash.
Table of contents
Deal terms and immediate facts
Stash Financial’s new lease covers 12,322 square feet on part of the sixth floor at 641 Avenue of the Americas. The lease was signed in mid‑August; the length of the term and the tenant’s move date were not disclosed.
The brokerage side listed an asking rent of $98 per square foot. The sixth floor of the building measures 22,000 square feet, which makes the tenant’s space roughly 56 percent of that floor when calculated from the figures provided.
Who handled the deal and where Stash is relocating from
Newmark brokers Jason Greenstein and Jonathan Franzel represented the landlord in the transaction; Paul Amrich, Neil King, Meghan Allen and Zach Price acted for Stash. Newmark declined to comment and CBRE did not respond to requests for comment as noted in the coverage.
Stash will relocate from a WeWork coworking space at 450 Park Avenue South. The report did not specify whether Stash’s new space will be built out before occupancy or whether it takes the suite with existing finishes.
The building and local leasing context
641 Avenue of the Americas is an eight‑story Beaux Arts office building in Chelsea with tenants that include DSM‑Firmenich and Infor. The property lists its sixth floor as 22,000 square feet on the building website and features a mix of corporate and creative occupiers in that mid‑rise block between West 19th and West 20th streets.
The size and asking rent point to a conventional office lease in Chelsea’s current market: a tenant moving from flexible coworking into dedicated space and taking over more than half of a single floor is a common footprint for tech‑adjacent finance firms expanding headcount while seeking a branded office.
What could move this either way
The case for
- A full‑floor or large partial‑floor lease can stabilise income for the landlord and may encourage complementary leasing on adjacent floors by signalling tenant demand at the property’s asking rents.
- For Stash, moving from a WeWork at 450 Park Avenue South to owned/leased space could lower per‑employee real estate costs over time and provide room for a more permanent buildout tailored to fintech operations.
The case against
- If the undisclosed lease term is short, the landlord retains rollover risk and the space could return to market sooner than anticipated at potentially lower effective rents.
- A move from coworking to a leased suite can raise fixed occupancy costs for Stash; if hiring slows the company could face higher per‑employee space burdens.
What to be careful about
- Lease term and effective rent after concessions are unknown and could materially change the economics reported by asking rent alone.
- The tenant’s move date and buildout responsibilities were not disclosed, exposing both parties to timing risk between lease signing and occupancy.
- The landlord identity was not named explicitly in the coverage; confirmation is needed to assess ownership strategy or any affiliation with Spear Street Capital mentioned in the report’s metadata.
The bottom line
The new lease anchors Stash Financial in a dedicated Chelsea office at 641 Avenue of the Americas with a 12,322‑square‑foot footprint and an asking rent of $98 per square foot. The transaction signals a shift from flexible coworking at 450 Park Avenue South into a longer‑form office arrangement, but key commercial details—most importantly the lease term, any concessions and the tenant’s move date—remain undisclosed. Those details will determine the deal’s true cost and the landlord’s income profile; they are the items to confirm next.
What to watch
- Watch for Stash’s announced move‑in date; no date has been set in the coverage.
- Watch for public disclosure of the lease term length from Stash or the landlord; the term was not disclosed.
- Watch for any landlord statement identifying ownership of 641 Avenue of the Americas, and whether that owner is Spear Street Capital, which appears in the report’s keywords.
Frequently asked questions
How large is the space Stash leased?
Stash signed for 12,322 square feet on part of the sixth floor; the sixth floor is listed as 22,000 square feet in the building materials.
What rent was quoted for the lease?
The asking rent reported for the deal was $98 per square foot; any negotiated effective rent or concessions were not disclosed.
Who brokered the transaction?
Jason Greenstein and Jonathan Franzel of Newmark represented the landlord; Paul Amrich, Neil King, Meghan Allen and Zach Price represented Stash, per the coverage.
