Shopify Signs on for 36K SF at 85 10th Avenue
By Abigail Nehring October 26, 2023 4:21 pm
reprints
If you work in tech, Chelsea is the place to see and be seen.
Canadian e-commerce start-up Shopify has signed a lease for just under 36,000 square feet on the eighth floor of 85 10th Avenue, according to a source with knowledge of the deal.
The length of the lease is unclear, but the source said it was longer than five years.
The source also could not disclose the asking rent, but it was above $100 per square foot, according to Bloomberg, which first reported the deal.
Shopify currently has its offices in SoHo and will join several tech companies to make its home in Chelsea. That includes its soon-to-be neighbors Google, which has been a tenant at 85 10th since 2014, and biometric screening company Clear, which moved its headquarters there in 2021.
An in-house team arranged the deal for landlords Related Companies and Vornado Realty Trust (VNO), which both own a stake in the 11-story building between 15th Street and 16th Street.
Vornado’s Edward Riguardi and Anthony Cugini are named as leasing agents for the property on the company’s website, and Related lists Stephen Winter as the broker for the building. Related and Vornado declined to comment.
Raise Commercial Real Estate represented Shopify, the source said. Brokers at Raise did not immediately respond to a request for comment.
A spokesperson for Shopify did not respond to a request for comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
