Online marketing firm expands in Fashion District building

Real Estate Weekly, Dec 1, 2004

Fast-growing LivePerson, Inc., a provider of solutions for online sales, marketing and customer service to companies such as Microsoft, EarthLink, Hewlett Packard and AT&T, has expanded its space at 462 Seventh Ave. in the Fashion District. LivePerson renewed a 6,500 s/f committment and added another 5,700 s/f for a total of 12,200 s/ f, the entire 21st and 22nd floors.

Grant Greenspan and Michael Kaufman, of Kaufman/Adler Realty, negotiated the three-year deal; it was the third time the team had represented LivePerson in five years.

The publicly traded company plans to use the office as its headquarters and will house executive management and sales and marketing staff at the location, having experienced significant employee growth in the past three years. President and chief financial officer Tim Bixby expects LivePerson's New York presence to continue to grow over the next several years.

"LivePerson felt comfortable in the space they were in, 462 Seventh being a low profile, but professional and convenient, building," said Greenspan. "We were pleased to be able to offer them the floor above their current offices as they continue their growth."

"This expansion is another example of the enormous interest in and success of non-fashion companies in the Fashion District," said Kaufman. "This is a significant trend that has been gaining momentum."

Although the terms of the lease were undisclosed, the asking price for the space was $30 per s/f. The 24-floor high-rise building was built in 1926 and is situated in the heart of the Fashion District.