The all-in-one banking platform Rho has solidified its commitment to New York City's burgeoning tech scene, signing a six-year lease extension that significantly expands its headquarters in SoHo. The move signals continued confidence in the neighborhood's ability to attract and retain high-growth technology companies.
Rho has added an additional 4,066 square feet to its existing space at the historic 100 Crosby St. building, bringing its total presence to 12,721 square feet. This marks the company's third expansion within the same property since establishing its first office there in 2020, underscoring a period of rapid growth for the finance technology firm.
Key Takeaways
- Fintech company Rho has expanded its SoHo office at 100 Crosby St. by 4,066 square feet.
- The company's total footprint is now 12,721 square feet under a new six-year lease extension.
- This is Rho's third expansion at the location since 2020, reflecting its significant growth.
- The deal highlights SoHo's increasing reputation as a desirable hub for tech and venture capital firms.
A Strategic Expansion in a Historic Setting
The latest lease agreement represents a significant milestone for Rho, which provides banking and financial management tools for startups and scaling businesses. The company now occupies a premium top-floor corner space in the building, offering views over the intersection of Broadway and Prince Streets.
The interior of Rho's office is designed to reflect a contemporary urban workspace, featuring elements like exposed brick, arched windows, and matte-black flooring. This aesthetic aligns with the creative and architectural character of the SoHo neighborhood.
The transaction was managed by representatives from two real estate firms. Thomas Mahl of Current Real Estate Advisors acted on behalf of the tenant, Rho. Neith Stone of GFP Real Estate represented the landlord, which is also GFP Real Estate.
"We’re proud to keep investing in and championing NYC as a leading tech startup ecosystem by doubling down on our presence in SoHo," said Everett Cook, co-founder and CEO at Rho. "From our inception to every stage of growth since, SoHo has been home. This next chapter at 100 Crosby reflects the company we’ve become, and the one we’re building next."
SoHo's Transformation into a Tech Corridor
The expansion by Rho is part of a larger trend solidifying SoHo as a prime destination for technology and finance-related startups. The neighborhood, long known for its cast-iron architecture, art galleries, and high-end retail, is now attracting a new generation of innovative companies.
From Arts District to Tech Hub
SoHo, an acronym for "South of Houston Street," is a neighborhood in Lower Manhattan known for its historic cast-iron architecture. Originally an industrial area, it became a haven for artists in the 1960s and 70s. In recent decades, it has evolved into an upscale commercial and retail district, and is now increasingly attracting technology and creative startups seeking a vibrant, well-connected location.
According to Neith Stone, the landlord's representative, the area's appeal lies in its unique combination of sophisticated amenities and creative authenticity. "SoHo’s emergence as a premier destination for tech-enabled startups reflects the neighborhood’s unique ability to serve this sophisticated market," Stone commented.
The tenant roster at 100 Crosby St. reflects this shift. Approximately one-third of the building's occupants are in the finance-technology, venture capital, and real estate sectors. The remaining space is occupied by direct-to-consumer startups and creative event production agencies, creating a diverse ecosystem of modern businesses.
The Enduring Appeal of 100 Crosby Street
The building at 100 Crosby St., also known as 560 Broadway, has proven to be a successful incubator for growing companies. Since the spring of 2025, the property has maintained full occupancy, a notable achievement in the commercial real estate market.
Building Profile: 100 Crosby St.
- Year Built: 1884
- Architect: Thomas Stent
- Style: Neo-Grecian
- Size: 175,000 square feet over six stories
- Key Features: Located in SoHo’s cast-iron historic district, the building features a renovated lobby with backlit “bullet-glass,” exposed brick, and salvaged timber beams.
Rho's journey within the building began with an initial lease of just 2,000 square feet. Its repeated expansions demonstrate the landlord's commitment to accommodating tenant growth.
"Rho exemplifies the caliber of tenant and quality of occupancy we’ve cultivated at this asset," Stone added. "Their multiple expansions from an initial 2,000 s/f underscore both their growth trajectory and our commitment to accommodating existing tenants at every step of their success."
Other major tenants have also recently reaffirmed their commitment to the location. Canadian fashion retailer Aritzia opened its new ‘SoHo Flagship Boutique’ in the building in January after signing a long-term lease extension. Last year, the popular subscription-based personal care brand Billie, Inc. also renewed a significant office lease.
A Location Built for Talent
For companies like Rho, a key factor in choosing an office location is the ability to attract and retain top talent. SoHo's central location, vibrant atmosphere, and excellent transportation links make it a highly desirable place to work.
The 100 Crosby St. building offers direct access to the R and W subway lines, with the 6 train just one block away, providing a convenient commute for employees across the city.
Thomas Mahl, who represented Rho, highlighted the building's role in the company's success. "100 Crosby has played a key role in helping Rho attract top talent, offering an inspiring working environment in the heart of vibrant Soho," Mahl stated. "We’re eager to see them continue thriving in this fantastic location."
As Rho settles into its expanded headquarters, its growth story serves as a testament to both its own business model and the enduring appeal of SoHo as a central hub for New York City's next generation of innovators.
