Commercial Real Estate
New York

Coinbase opening first NYC office at 55 Hudson Yards

Cryptocurrency platform is subleasing 30K sf of Point72’s office

Coinbase CEO Brian Armstrong and 55 Hudson Yards (Getty, Godsfriendchuck/Wikimedia)

Coinbase CEO Brian Armstrong and 55 Hudson Yards (Getty, Godsfriendchuck/Wikimedia)

Coinbase’s next big move? Opening its first New York City office.

Fresh off its IPO, the cryptocurrency exchange platform has inked a 30,000-square-foot sublease at 55 Hudson Yards, the New York Post reported. Coinbase is taking part of Point72 Asset Management’s 339,000-square-foot space at Related Companies’ tower.

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The terms of the deal were not clear, but Point72’s lease runs until 2034, paying $88.37 per square foot. Sublease rents are usually less than the original leases.

San Francisco-based Coinbase went public — the first major cryptocurrency company in the U.S. to do so — in April, with a market valuation of $85.7 billion.

It joins other tech tenants at Hudson Yards, including Facebook, which signed leases for more than 1.5 million square feet of office space across three buildings, including about 1.2 million square feet at 50 Hudson Yards, 265,000 square feet at 30 Hudson Yards and 57,000 square feet at 55 Hudson Yards.

[NYP] — Akiko Matsuda

COMPANIES AND PEOPLE

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Commercial Real Estate
New York

Coinbase opening first NYC office at 55 Hudson Yards

Cryptocurrency platform is subleasing 30K sf of Point72’s office

Coinbase CEO Brian Armstrong and 55 Hudson Yards (Getty, Godsfriendchuck/Wikimedia)

Coinbase CEO Brian Armstrong and 55 Hudson Yards (Getty, Godsfriendchuck/Wikimedia)

Coinbase’s next big move? Opening its first New York City office.

Fresh off its IPO, the cryptocurrency exchange platform has inked a 30,000-square-foot sublease at 55 Hudson Yards, the New York Post reported. Coinbase is taking part of Point72 Asset Management’s 339,000-square-foot space at Related Companies’ tower.

Read more

The terms of the deal were not clear, but Point72’s lease runs until 2034, paying $88.37 per square foot. Sublease rents are usually less than the original leases.

San Francisco-based Coinbase went public — the first major cryptocurrency company in the U.S. to do so — in April, with a market valuation of $85.7 billion.

It joins other tech tenants at Hudson Yards, including Facebook, which signed leases for more than 1.5 million square feet of office space across three buildings, including about 1.2 million square feet at 50 Hudson Yards, 265,000 square feet at 30 Hudson Yards and 57,000 square feet at 55 Hudson Yards.

[NYP] — Akiko Matsuda

COMPANIES AND PEOPLE

Tags