Casper Moving to 230 PAS for 32K SF
Terence Cullen March 11, 2016, 5:52 p.m.
Casper has picked out a spot in the Flatiron District to rest its head.
The Internet-based mattress-maker has signed a 32,000-square-foot lease at the 386,000-square-foot 230 Park Avenue South, The Real Deal reported. Casper’s space is on the 13th floor as well as 4,000-square-foot penthouse at the 13-story building between East 18th and East 19th Streets.
Casper will pay in the mid-$70s per square foot, TRD reported. The lease is for five years.
Ethan Silverstein, Mark Mandell and John Peters of Cushman & Wakefield represented landlord TF Cornerstone in the deal. C&W declined to comment via a spokesman. Jonathan Wasserstrum and Justin Lee of TheSquareFoot represented Casper in the deal. The startup brokerage declined to comment through a spokesman.
Young & Rubicam leases 19,342 square feet at the Flatiron District building, according to CoStar Group. Gullane Entertainment and Earth Class Mail are also tenants at the building.
This will be a major expansion for Casper, which currently leases 2,900 square feet at 45 Bond Street between the Bowery and Lafayette Street, according to CoStar. Casper took in $55 million during a Series B fundraising round in July 2015, according to venture capital tracking website Crunchbase. The startup was valued at $550 million going into the round. Overall it has raised $71.5 million in capital during four rounds.