Epidemic Sound Signs 9K-SF Lease at 205 West 28th Street
By Mark Hallum October 18, 2024 12:28 pm
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Sweden-based Epidemic Sound has signed a five-year lease for 8,600 square feet in Midtown South at 205 West 28th Street, owned by GDS Development Management (GDSNY) and Corem Property Group, where it plans to relocate it’s New York City headquarters in the second quarter of 2025, the landlords announced Friday.
The company, founded in 2009, specializes in licensing 50,000 tracks of music and sound effects to social media users by way of a subscription and will be moving from 79 Walker Street.
The asking rent was not disclosed, but the average asking rent in Midtown South in September was $83.63 per square foot, according to a report from CBRE.
“[Epidemic Sound] will contribute to the tenant mix in an extraordinary way. Our leasing is doing well in the U.S. and the leasing pace confirms the continued strong demand for new office buildings in the premium segment,” Rutger Arnhult, CEO of Corem, said in a statement.
Cushman & Wakefield (CWK)’s Ethan Silverstein, Michael Movshovich, Connor Daugstrup and Grant Potter represented the landlords in the deal. It’s unclear who handled negotiations for the tenant. C&W did not immediately respond to a request for comment.
The recently built 12-story office building at West 28th Street and Seventh Avenue has been dubbed 28&7 by the developers and was designed by Skidmore, Owings & Merrill. The property sits adjacent to the Fashion Institute of Technology.
Other tenants in the building include blockchain company Injective Labs, which signed an 8,685-square-foot lease in August; tech firm Ellipsis Labs, which also has the same size footprint it signed on for that same month; and New Jersey-based pastry chain Patis Bakery, which took 3,900 square feet in June 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
