Sailthru Leases Former NYU/Poly Incubator Space at 160 Varick Street

Sailthru, the ubiquitous email deliverability and analytics firm, has recently signed a lease to take over the former NYU/Poly Incubator space at 160 Varick Street.  The space, located on the top floor of the building, aka 10 Hudson Square, was vacated at the end of last year by the incubator, who relocated to 137 Varick Street, a few blocks away.  Sailthru signed a lease for 17,775 square feet, which includes access to the property’s rooftop.
 

160 Varick Street/10 Hudson Square is a twelve-story, 350,000 square foot property constructed in 1927.  Its major tenants include Kirschenbaum Bond Senecal + Partners and WNYC Radio, in addition to Sailthru.  The landlord, Trinity Real Estate, is one of the largest landholders in Hudson Square, a submarket bounded by Sixth Avenue to the Hudson River, from Canal Street to 13th Street. This district, in which Trinity Real Estate holds six million square feet in 18 buildings, is one of Manhattan’s rising business centers, in an area of the city that was quiet farmland three hundred years ago.

[Historical Side Note: In 1705, Queen Anne of England granted the "Church Farm" to Trinity - 215 acres of what is now Hudson Square.  Queen Anne’s generous gift allowed Trinity to begin leasing lots and offer its own land grants - the first of which was given to King’s College, later known as Columbia University. Today, Trinity owns 15 acres - or 8 per cent - of the original 215 land grant acres, having given away 143 lots to other institutions, including new churches and chapels.]

Sailthru is a three-year old company that was born out of the need for a higher standard of email deliverability.  Sailthru’s mission is to create dynamic, seamless one-to-one personalized media by giving consumers what they want, when they want it, and how they want it.  The company has built a platform that reliably sends millions of transactional emails (welcome emails, password resets and receipts) and has expanded their capabilities to include newsletters, mass mailings, community updates and promotions.  More recently, they have expanded into analytics, reporting and database technologies, resulting in a unique platform built for mass, one-to-one user experience management (UXM).

In September of last year, Sailthru raised an $8 million Series A round led by RRE Ventures and including AOL Ventures, DFJ Gotham Ventures, Hatteras Funds, Lerer Ventures, Pilot Group and Thrive Capital.

Sailthru was represented by OLC’s Jack Petrie and his former colleague, Jamie Addeo of Cresa Partners.  This transaction shows the viability of the Hudson Square submarket as an ecosystem and destination for NYC’s burgeoning technology sector.  Hudson Square now boasts PulsePoint, Rent the Runway, SignPost, TheLadders and many other firms, in addition to Sailthru and the NYU/Poly Incubator.