Key Takeaways
- • Cryptocurrency venture capital firm Variant signed a 10-year lease for 6,623 square feet on the entire seventh floor of 75 Spring Street in SoHo at $95 per square foot asking rent, representing a significant institutional commitment to NYC crypto real estate.
- • Variant is relocating from its current headquarters at 149 Fifth Avenue in the Flatiron District to 75 Spring Street, with the move expected to complete in summer 2026, signaling continued expansion of crypto-focused investment operations in Manhattan.
- • Current Real Estate Advisors' team of Adam Henick, Brandon Charnas, and Thomas Mahl brokered the transaction for both tenant and landlord Greystone Management, with the deal reflecting strong demand for upgraded, move-in-ready office space in SoHo's commercial market.
- • 75 Spring Street, a nine-story mixed-use building at the corner of Crosby and Spring streets, hosts a diversified tenant base including investment advisory firm Raven Capital Management, wellness platform Melissa Wood Health, and retail anchor J. Crew, demonstrating the property's appeal across alternative investment and lifestyle sectors.
Summary
Variant, a cryptocurrency-focused venture capital firm founded in 2020, has executed a long-term office expansion in New York City through a 10-year lease at 75 Spring Street in SoHo. The early-stage crypto fund secured the entire seventh floor, comprising 6,623 square feet, at an asking rent of $95 per square foot, according to Current Real Estate Advisors, the brokerage that represented both parties.
The transaction marks a strategic relocation for Variant from its established offices at 149 Fifth Avenue in Manhattan's Flatiron District. The move to SoHo, expected to occur in summer 2026, reflects the firm's commitment to consolidating operations in a prime NYC location as crypto-focused institutional investment activity continues to expand in the city. Broker Adam Henick of Current Real Estate Advisors characterized the deal as validation of demand for premium office space in the neighborhood, stating that "Variant's long-term commitment to 75 Spring Street underscores the appetite for high-end, move-in-ready office space in this neighborhood."
75 Spring Street's ownership, represented by Greystone Management, has invested in building upgrades to attract institutional tenants. The nine-story asset houses a mixed-use tenant roster spanning alternative investments, wellness, and retail. Current occupants include Raven Capital Management (investment advisory), Melissa Wood Health (wellness platform), Spring Street Dermatology (medical), and J. Crew (ground-floor retail). This tenant mix positions the building as a hub for professional services and lifestyle-oriented businesses in SoHo's increasingly commercial corridor.
The lease placement underscores a broader trend of crypto and fintech firms prioritizing Manhattan real estate, particularly in established commercial neighborhoods like SoHo. As regulatory frameworks around digital assets continue to mature and institutional capital flows into crypto-focused vehicles, securing premium office space has become a marker of operational legitimacy and long-term strategic commitment for emerging venture funds.
The transaction marks a strategic relocation for Variant from its established offices at 149 Fifth Avenue in Manhattan's Flatiron District. The move to SoHo, expected to occur in summer 2026, reflects the firm's commitment to consolidating operations in a prime NYC location as crypto-focused institutional investment activity continues to expand in the city. Broker Adam Henick of Current Real Estate Advisors characterized the deal as validation of demand for premium office space in the neighborhood, stating that "Variant's long-term commitment to 75 Spring Street underscores the appetite for high-end, move-in-ready office space in this neighborhood."
75 Spring Street's ownership, represented by Greystone Management, has invested in building upgrades to attract institutional tenants. The nine-story asset houses a mixed-use tenant roster spanning alternative investments, wellness, and retail. Current occupants include Raven Capital Management (investment advisory), Melissa Wood Health (wellness platform), Spring Street Dermatology (medical), and J. Crew (ground-floor retail). This tenant mix positions the building as a hub for professional services and lifestyle-oriented businesses in SoHo's increasingly commercial corridor.
The lease placement underscores a broader trend of crypto and fintech firms prioritizing Manhattan real estate, particularly in established commercial neighborhoods like SoHo. As regulatory frameworks around digital assets continue to mature and institutional capital flows into crypto-focused vehicles, securing premium office space has become a marker of operational legitimacy and long-term strategic commitment for emerging venture funds.
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