Extend AI, an artificial intelligence document processing platform, has leased 8,750 square feet across the entire sixth floor of 119 Fifth Avenue in Manhattan's Flatiron District. The company relocates from its prior offices at 135 West 29th Street.
Nomad Group represented both the tenant and landlord in the transaction. The brokers declined to disclose financial terms of the lease.
The move keeps Extend AI within the Flatiron neighborhood, a cluster zone for technology and creative firms seeking proximity to lower Manhattan's financial district and Brooklyn tech hubs. 119 Fifth Avenue, anchored at the intersection of Fifth Avenue and 23rd Street, sits among Manhattan's most recognizable addresses. The building's pre-war architecture and renovated interiors attract mid-to-large tech tenants seeking branded office space without the premium pricing of Hudson Yards or Midtown South alternatives.
For Extend AI, the entire-floor lease signals growth. An 8,750-square-foot footprint typically accommodates 50 to 75 employees depending on layout and hot-desking ratios. The company's document automation software targets enterprise clients in finance, insurance, and legal services, sectors that concentrate heavily in Manhattan. Proximity to these verticals and their headquarters justifies the Flatiron premium.
The lease benefits 119 Fifth Avenue's landlord by filling a mid-to-large floor with a stable, well-capitalized technology tenant. Flatiron Class A and Class B office space has faced headwinds since 2022 as remote work policies reshaped Manhattan occupancy. Landing a full-floor commitment from a growing AI firm counters the narrative of shrinking demand.
For the broader Flatiron and Nomad office market, this transaction reflects selective tenant demand. Not all tech firms fled Manhattan. Profitable,