Leases  ·  Office

Stripe Signs 147K-SF Sublease at 28 Liberty Street

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Electronic payment company Stripe is swiping its card on a new office space in the Financial District.

The tech firm signed a 147,000-square-foot sublease with American International Group (AIG) for the 45th through 48th floors of 28 Liberty Street.

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Stripe will relocate from Jack Resnick & Sons199 Water Street, where it currently leases 125,000 square feet, according to sources with knowledge of the deal. (Bisnow first reported the sublease.)

The length of the sublease and the asking rent were not disclosed, but average rents across Manhattan were $76.28 per square foot in the first quarter of 2024, according to a report from Savills.

AIG leased about 220,000 square feet in the building during COVID-19, as well as 325,000 square feet at Rockefeller Group‘s 1271 Avenue of the Americas, Commercial Observer reported at the time.

Peter Riguardi, Joseph Messina, Michael Shenot and Andrew Coe of JLL (JLL) represented AIG while CBRE (CBRE)’s Sacha Zarba, Jeffrey Fischer and Joseph D’Apice negotiated on behalf of the subtenant. JLL and CBRE declined to comment.

The property is owned by Fosun Hive Holdings which also leases 7,000 square feet to tennis and pickleball provider Court 16, which signed a deal in 2022.

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