Spotify Signs Massive New Office Lease at 4 World Trade Center

Spotify Signs Massive New Office Lease at 4 World Trade Center

Commercial News » New York City Edition | By Michael Gerrity | February 17, 2017 8:33 AM ET

Streaming service signs up for 378,243 square feet of prime office space

Global real estate consultant JLL is reporting today that their client -- Spotify USA -- has just inked a significant office lease at 4 World Trade Center with building owner Silverstein Properties Inc. The music streaming service will now lease 387,243 square feet of office space at the Class A, 2.3 million-square-foot commercial office building.

Spotify was represented by Peter Riguardi, chairman and president of JLL's New York operations; Alexander Chudnoff and Kenneth Siegel, vice chairmen; and Jim Wenk, managing director, all with JLL. The building owner was represented by Mary Ann Tighe, CEO; Stephen Siegel, chairman of global brokerage; Ken Meyerson, vice chairman; Adam Foster, executive vice president; Steve Eynon, Evan Haskell and Robert Hill, senior vice presidents; and David Caperna, senior associate, all with CBRE Inc. Both firms worked closely with Marty Burger, CEO, and Jeremy Moss, executive vice president and director of leasing, with Silverstein Properties.

"Spotify sought a new, first-class building that could provide the firm with ample room to consolidate its New York operations and further expand its thriving business," said Riguardi. "The streaming service's relocation to 4 World Trade Center marks a major transition for Lower Manhattan."

Spotify signed a 15-year lease for 378,243 square feet of office space at 4 World Trade Center, which is located on Greenwich Street between Liberty and Cortlandt streets in Lower Manhattan. The streaming service is relocating and consolidating its New York operations to the building from its current offices at 620 Avenue of the Americas and elsewhere.

The 72-story 4 World Trade Center was designed by Pritzker-prize winning architect Fumihiko Maki and construction was completed in 2013. 4 World Trade Center is the first tower to be completed on the 16-acre site and meets LEED Gold standard of sustainability.

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