Forus, an AI company previously branded as Tandem, has leased 25,200 square feet across the entire second and third floors of 109 Wooster Street in SoHo. Zar Property NY owns the six-story building located between Spring and Broome streets.
The company specializes in modernizing medication access and healthcare operations through artificial intelligence. This lease marks a significant backfill for the SoHo office market, where tech and life sciences tenants have driven recent leasing activity.
The deal size places Forus in the mid-market tenant category for Manhattan. Tech companies have increasingly pursued space in SoHo over the past three years, seeking alternatives to Midtown's higher rents and larger floor plates. A 25,000-square-foot commitment across two contiguous floors offers Forus flexibility for growth without relocating.
Zar Property NY acquired 109 Wooster Street as part of its portfolio of SoHo assets. The landlord benefits from securing a longer-term tenant in a neighborhood where office occupancy recovered faster than other downtown Manhattan submarkets. Typical SoHo office rents range from $55 to $75 per square foot annually, depending on building condition and location.
The lease reflects tenant demand for smaller, more efficient office footprints compared to pre-pandemic norms. Forus occupies roughly 8,400 square feet per floor, suitable for hybrid work models where companies maintain core office space without planning for 100 percent in-office occupancy.
For landlords like Zar Property, securing an AI or healthcare-focused tenant carries lower vacancy risk than general office space. These sectors have shown stronger demand and lower churn rates than traditional corporate tenants.
The SoHo office market continues stabilizing after pandemic volatility. Cast-iron buildings with