Twitter To Dump Two Floors of Chelsea HQ
Twitter is looking to sublease some 24k SF at its Chelsea office.
The two floors at the New York REIT’s 245 West 17th St would be “swing space” available for two to three years. The tech company is in active talks with possible takers, according to The Real Deal.
Twitter signed a lease for 140k SF spread out over two buildings in early 2014. In those days, asking rents were reportedly in the $70s and $80s PSF.
Sources tell The Real Deal the space Twitter’s looking to unload is going for the high $60s PSF. Cresa’s Eric Thomas repped Twitter when it got its current lease, and he’s repping them as they look for a sublesee.
The company’s been in a rough patch, having cut about 8% of its workforce this past October, and it’s lost about 2 million users since the end of Q3 last year. It has also reportedly put a full floor at its San Francisco main HQ up for sublease. The company’s Q1 earnings are due to come out tomorrow. [TRD]
