Market-leading claims guidance tech platform more than doubles overall footprint with relocation to 250 Hudson Street in New York City
Savills announced today that it has completed a 27,761-square-foot sublease transaction on behalf of EvolutionIQ at 250 Hudson Street in Manhattan’s Hudson Square neighborhood. Previously headquartered at 27 West 24th Street occupying 10,705 square feet, EvolutionIQ is more than doubling its overall footprint in the newly built and fully furnished plug-and-play sublease space at 250 Hudson Street.
EvolutionIQ is the premier claims guidance platform for disability and workers’ compensation insurance carriers. With a clientele comprising the majority of the top 20 US Disability and Life carriers, EvolutionIQ’s proprietary AI steers claim handlers towards their most effective activities throughout the entire claims portfolio. EvolutionIQ has already relocated its employees into the new space.
“We’ve advised EvolutionIQ since 2021, when the company leased a 3,000 square foot suite shortly after its founding,” said Savills Zev Holzman, Vice Chairman. “Fast forward a few short years, and we’re touring spaces that are significantly larger – and of higher quality – and ultimately negotiated for and secured a superior, move-in-ready full floor of this size, with quality light and views in an in-demand submarket – a phenomenal success story of rapid growth for the company.”
“Our team is really enjoying being together in our new, well-finished, light-filled offices. Zev and Chris have really been the perfect partners,” said Jonathan Lewin, co-founder and co-CEO of EvolutionIQ. “They navigated us through the NYC real estate market, helped us negotiate terms and complex agreements with landlords, sublandlords, and a subtenant, and patiently answered our questions on every topic imaginable. The result is that we landed in turnkey offices–our entire team moved in just two days after the lease was signed—and already sublet our old offices to a high quality tenant, greatly reducing the cost of the move.”
EvolutionIQ was represented by a Savills team that included, Holzman, Christopher Foerch, Corporate Managing Director, New York; and Will Joumas, part of Savills Integrated Consulting Strategies group. In addition, Holzman and Foerch also secured a subtenant for EvolutionIQ’s former office, allowing the firm to seamlessly dispose of its space, with its new subtenant taking possession of its former office two weeks after Evolution IQ relocated to 250 Hudson – a rarity in today’s market.
The sublandlord, TMRW Life Sciences, was represented by a Savills team that included Gabe Marans, Vice Chairman, New York; Mitti Liebersohn, Chairman, New York brokerage; and Maxine Rosen, Assistant Director. Jack Resnick & Sons was represented in-house by Adam Rappaport.
Located in the desirable Hudson Square neighborhood, 250 Hudson Street is one of two former printing and manufacturing buildings in the area that have been redeveloped by Jack Resnick & Sons to cater to creative and technology firms. The property features a striking limestone and marble lobby, high ceilings and polished concrete floors. Resnick’s redevelopment of 250 Hudson has been awarded LEED Gold and WiredScore certification along with the EPA’s Energy Star designation. Resnick also redeveloped its sister property at 315 Hudson Street which it has incorporated into its larger Hudson Square campus. Resnick purchased both buildings in the 1960’s.
About Savills Inc.
Savills is one of the largest integrated commercial real estate advisory firms in the world. With over 600 offices globally, we bring together people, services, and technology to help organizations and investors power people and drive growth. For 160 years, we have connected clients with the local market expertise they need. Savills is commercial real estate unlocked. Learn more at savills.us.
