Online Marketplace 1stDibs Moving HQ to 14K SF at 300 Park Avenue South
By Mark Hallum March 28, 2024 10:48 am
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One does not simply call dibs on 13,671 square feet of New York City office, but try telling that to this e-commerce retailer, Commercial Observer has learned.
1stDibs, an online marketplace specializing in hawking art, antiques, furniture and jewelry, is moving its corporate headquarters from 51 Astor Place to Rockrose Development" class="company-link">Rockrose Development’s 300 Park Avenue South, according to landlord broker Cushman & Wakefield (CWK).
C&W did not disclose the asking rent or the length of the lease. Asking rent in Midtown South averaged $83.35 per square foot in the fourth quarter of 2023, according to a report from CBRE.
“The flight-to-quality trend is still very evident as tenants continue to flock to top-tier buildings, and 300 Park Avenue South is one of Midtown South’s best-equipped properties for a variety of tenants,” C&W’s Remy Liebersohn, who represented the landlord alongside Josh Kuriloff, Matthias Li, Drew Braver and Heather Thomas, said in a statement.
Rob Fink also represented Rockrose in-house in the transaction while JLL (JLL)’s Greg Wang, Christine Colley and Thomas Swartz negotiated on behalf of 1stDibs. A spokesperson for JLL did not immediately respond to a request for comment.
1stDibs was founded in 2001 and has been headquartered at 51 Astor Place since 2013, as CO previously reported. It opened a showroom at 200 Lexington Avenue in 2011 and in 2018 subleased 41,000 square feet to open another one at Chelsea’s Terminal Stores.
The 14-story 300 Park Avenue South dates back to 1910 and sits between Madison Square Park and Gramercy Park. It also houses marketing analytics startup AppsFlyer, which signed for 13,000 square feet in August 2021, and upholstery company Swavelle Mill Creek Fabrics, which took roughly the same footprint in March 2018.
Mark Hallum can be reached at mhallum@commercialobserver.com.
