Dailymotion Takes Over Soundcloud Office in Flatiron District
Video streaming company Dailymotion has subleased office space from audio sharing service Soundcloud in the Flatiron District.
The 13-year-old video company took 21,657 square feet for three and a half years on the entire 10th floor at Two Trees Management Company‘s 50 West 23rd Street, according to a press release from Cushman & Wakefield, which brokered the deal for the tenant. Dailymotion will relocate from nearby 156 Fifth Avenue between West 20th and West 21st Streets.
C&W’s Douglas Regal and Evan Algier represented Dailymotion in the transaction. Colliers represented Soundcloud.
The new lease will consolidate all of Dailymotion’s employees onto one floor from two previously unconnected floors in its former home, Regal said in a statement. He added that the newly renovated 13-story building has “become a hub for the tech and digital media community in NYC.” A Two Trees spokeswoman didn’t immediately respond to a request for comment.
Soundcloud originally inked a five-year lease for 43,700 square feet on the entire 9th and 10th floors in 2015, as the The Wall Street Journal reported at the time. Other tech tenants in the 340,000-square-foot building include newsletter producer TheSkimm, which took 22,000 square feet there last year, file-sharing company Dropbox, and educational tech startup Grovo.
Two Trees purchased the building between Fifth Avenue and Avenue of the Americas for $129.5 million in 2010, and it remains the Brooklyn-based developer’s only Manhattan office property.