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Crypto Trading Platform dYdX Opening First NYC Office at 38 Greene Street

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A cryptocurrency trading platform is establishing its first New York City office in SoHo, Commercial Observer has learned.

San Francisco-based dYdX signed a 10-year, 21,400-square-foot office lease across the fifth, sixth and seventh floors of Zar Property NY’s 38 Greene Street, according to a source with knowledge of the deal. Asking rent was $159 per square foot.

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dYdX, which offers what it describes as a “democratized” and “decentralized” trading platform for its clients, listed eight new positions it is hiring for for a New York City office.

Brett Harvey, who recently went to Newmark (NMRK) from JLL (JLL), represented dYdX in the transaction while David Zar and Julian Zar negotiated in-house on behalf of the landlord. Harvey, who arranged the deal and started the job at Newmark before it was finalized, did not immediately respond to a request for comment while Zar declined to comment.

The triplex space features original cast-iron interiors on the fifth floor while the sixth and seventh are additions to the building with a rooftop terrace that was completed in September 2023 with the help of architecture firm Workshop/APD.

Other tenants in the building include a Fjällräven store on the ground floor, a software firm for community engagement called OpenWeb as well as development company And.co, which is now known as Fiverr Workspace.

Mark Hallum can be reached at mhallum@commercialobserver.com.