a16z Doubles Footprint at LaSalle’s 200 Lafayette

Andreessen Horowitz, a prominent venture capital firm often referred to as "a16z," is expanding its presence at 200 Lafayette Street in Soho. The company currently occupies the third and fourth floors of the office condo but will soon take over the sixth and seventh floors, previously leased by yogurt brand Chobani. Chobani is relocating to a new boutique office at 360 Bowery.

Details of the Lease Agreement

The expanded lease adds 33,560 square feet to Andreessen Horowitz’s current footprint, doubling its space to 67,120 square feet. This lease, arranged for space within the office portion of the building owned by LaSalle Investment Management, reflects the firm’s significant growth. Rental rates have surged from $90 per square foot ,when the original lease was signed in 2021, to $130 per square foot.

Ownership and Building History

The 200 Lafayette office condo is managed by AEW and was acquired by LaSalle Investment Management in 2015 for $125 million on behalf of Swiss Re. Meanwhile, Brookfield Properties retains ownership of the retail and office space at the building’s base and is reportedly preparing to sell the fully-leased condo.

This industrial loft building, dating back to 1896, boasts a storied history. Real estate mogul John Zaccaro purchased the property in 2006 for $20 million. Jared Kushner and CIM later acquired it in 2012 for $50 million, transforming it into a sought-after office asset.

Notable Tenants and Past Transactions

The building currently houses luxury fashion brand Moncler on the second floor and Eataly in the retail space spanning over 29,500 square feet. It was once net-leased for 15 years to JCPenney at a cost of $8 million annually under the leadership of Ron Johnson.

a16z's Market Standing

Founded in 2009, Andreessen Horowitz manages $44 billion in committed capital, positioning it as a key player in the venture capital space. This financial strength underscores the firm's ability to secure prime real estate at premium rates.

Key Real Estate Representatives

The lease negotiations involved top real estate professionals, with Barbara Winter and Carlee Palmer from JLL representing the property owners and Steven Rotter of Newmark representing Andreessen Horowitz.