January 5, 2016
Dropbox Joining Soundcloud at Edge of NoMad
The tech boom in and around NoMad continues as Dropbox moves its office to the edge of NoMad, on 23rd Street. Featuring countless startups as well as international heavyweights, the Silicon Alley area, running through Flatiron and NoMad, was a natural to become the long-term NYC home of Dropbox.
Valued at $10 billion, Dropbox signed a 5-year lease to take a 31,000 square foot space at 50 West 23rd Street, just blocks from its current 18th Street location. Crain’s is reporting that Two Trees Management’s asking rent at 50 West 23rd is $72 per square foot.
Dropbox will join Soundcloud (a trendy online music platform) as well as an additional high-profile likely neighbor at 50 West 23rd. According to Crain’s, “Jed Walentas, a principal of Two Trees, said his firm is in negotiations with a tenant that would take 80,000 square feet—the bulk of the building’s available space.”
Walentas added that his firm “worked hard to make the building a place that attracts that kind of tech tenants.”
We’re thrilled to see New York tech scene growing and thriving in Nomad and Flatiron at the heart of Silicon Alley.