Casper Leaves Midtown South for World Trade Center
By Rebecca Baird-Remba January 7, 2019 6:34 pm
reprints
Online mattress startup Casper is bedding down at the World Trade Center.
The mattress e-retailer inked a 70,000-square-foot lease for 15 years at the newly-opened 3 World Trade Center, The Real Deal reported. Casper will occupy the 39th and part of the 40th floors and has “significant rights” to expand later on, Silverstein Properties’ leasing director Jeremy Moss told TRD. Asking rent in the deal was $80 a square foot.
Moss told the publication that Casper was drawn both to the subway access by WTC and the proximity to its retail store at Westfield World Trade Center, where the brand has one of its two brick-and-mortar outposts in Manhattan.
Moss negotiated the deal on behalf of the landlord, along with a CBRE (CBRE) team of Mary Ann Tighe, Stephen Siegel, Ken Meyerson, Adam Foster, Evan Haskell, Steve Eynon, David Caperna and Rob Hill. CBRE’s Sinclair Li, Dan Wilpon, Lauren Crowley Corrinet and Will Trotsky represented Casper. A CBRE spokeswoman said the brokerage declined to comment on the transaction, and Moss didn’t immediately return a request for comment.
Casper is currently located in 31,000 feet across the top two floors at TF Cornerstone’s 230 Park Avenue South, where it signed a five-year deal in 2016. The e-retailer told TRD that it already expanded beyond its original space on Park Avenue South and currently occupies roughly 70,000 square feet there. The company’s lease doesn’t expire until 2021, but it is departing because Discovery Inc. signed a deal to take over most of the 13-story, 386,000-square-foot building. Casper expects to move by the end of the summer.
