Leasing & tenant law · Deals & development · 11/04/2026
Grow Therapy Signs 78K-SF Office Lease at Essex Crossing
Mental health platform Grow Therapy signed a lease for more than 78,000 square feet at 145 Delancey Street in Essex Crossing, Gov. Kathy Hochul's office announced on 11/04/2026. The landlord is a joint venture of Taconic Partners, L+M Development Partners, BFC Partners, the Prusik Group and Goldman Sachs Urban Investment Group. Rent, lease length and brokers were not disclosed.
Reported by Commercial ObserverRead the original ↗
What happened
Grow Therapy, a mental health platform that offers in-person and online therapy, has signed an office lease for more than 78,000 square feet at 145 Delancey Street, part of Essex Crossing on Manhattan's Lower East Side. Commercial Observer reported the deal on 11/04/2026, citing an announcement from Gov. Kathy Hochul's office that day.
The company plans to invest $15 million in the space and create 123 new jobs. It is backed by $1.4 million in Excelsior Jobs Program tax credits from Empire State Development, the state's economic development agency.
The building is owned by a joint venture of Taconic Partners, L+M Development Partners, BFC Partners, the Prusik Group and Goldman Sachs Urban Investment Group. The landlords did not immediately give the asking rent, the lease length or the brokers' names. For comparison, Commercial Observer cited a CBRE report putting average office asking rent in Lower Manhattan at $62.40 per square foot in the third quarter of 2026.
This is Grow Therapy's second New York City office lease in about a year. In late 2025 it signed for 19,000 square feet at Northwood Investors' 100 Broadway, space meant to let it hire 186 people, mainly in technology, operations and marketing.
Key facts
- Address
- 145 Delancey Street, Essex Crossing, Manhattan
- Size
- More than 78,000 square feet of office space
- Tenant
- Grow Therapy, a mental health platform offering in-person and online therapy
- Landlords
- Joint venture of Taconic Partners, L+M Development Partners, BFC Partners, the Prusik Group and Goldman Sachs Urban Investment Group
- Investment and jobs
- $15 million investment; 123 new jobs planned
- State support
- $1.4 million in Excelsior Jobs Program tax credits from Empire State Development
- Market rent benchmark
- Lower Manhattan average office asking rent of $62.40 per square foot in Q3 2026 (CBRE)
- Date reported
- 11/04/2026 (Commercial Observer)
What it means
Landlords
This is a commercial office deal, not a residential one, so it does not change rules or rents for apartment owners. It is one more sign of office demand and hiring in Manhattan, but the material gives no data on nearby housing demand.
Tenants and voucher holders
The deal does not create housing or affect any apartment lease. The 123 planned jobs are new positions, but the material does not say what roles they are, what they pay or when hiring starts.
Caseworkers
The planned hiring could be worth watching for job-seeking clients. Its prior expansion focused mainly on technology, operations and marketing roles, but the material does not say whether the new jobs will follow that pattern.
The highlights
- Grow Therapy plans to invest $15 million at 145 Delancey and create 123 jobs.
- Empire State Development backs the move with $1.4 million in Excelsior tax credits.
- It is the firm's second NYC lease in a year, after 19,000 SF at 100 Broadway.
Why it matters Landlords
A large tech-health tenant expanding on the Lower East Side signals continued office demand in Lower Manhattan for commercial owners.
Not known yet
- The rent and length of the lease
- When Grow Therapy will move in and when the 123 jobs will be filled
- What kinds of jobs will be created and what they will pay
- Whether the space replaces or adds to the 19,000 square feet at 100 Broadway
Background
New York State's Excelsior Jobs Program, run by Empire State Development, offers tax credits to companies that commit to creating jobs and making investments in the state. The credits are generally performance-based, meaning a company claims them over time only as it meets its agreed job and investment targets. Announced credit amounts are typically maximums, not money paid up front.
Summary written by Bulwark from Commercial Observer’s reporting. The original story is at commercialobserver.com. This is general information, not legal advice.
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Photo: Andre Carrotflower, CC BY-SA 4.0