Robinhood Signs 10-Year Sublease For 125,392 Square Feet At Vornado Realty Trust In Manhattan
2 Pennsylvania Plaza
Building Size
125,392 SF
Asset Type
Office
Closing
Nov 6, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 2 Pennsylvania Plaza in Manhattan. The total square footage of the asset is 125,392, and it is part of Vornado Realty Trust’s Penn 2 office tower situated above Penn Station.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: 10-year
- Lease Type: Sublease
- Landlord: Steven Roth - Vornado Realty Trust
- Tenant: Robinhood
The deal features key individuals including Steven Roth representing Vornado Realty Trust as the landlord and Vlad Tenev representing Robinhood as the tenant. The leasing arrangement comprises two floors within the office tower.
On the Map
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93