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Duolingo Subleases Space At Spotify's US Headquarters In Lower Manhattan
LEASED
New York
See Similar DealsOffice86,000 SF
Leased 12/21/2023
LEASED
Duolingo Subleases Space At Spotify's US Headquarters In Lower Manhattan
4 World Trade Ctr
See Similar DealsOffice86,000 SF
Leased 12/21/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:86,000 SF
Transaction Type:Lease
Duolingo, the language learning app-maker, has sub-leased 86,000 square feet of space at Spotify's U.S. headquarters in 4 World Trade Center. The sublease involves the 26th and 27th floors of the building, which were previously occupied by the Port Authority of New York and New Jersey.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Sublease
- Address: 4 World Trade Center
- Market: Lower Manhattan
- Square footage: 86,000 SF
Duolingo's sublease allows the company to establish a presence in a prominent location, taking advantage of the office space previously occupied by the Port Authority. The transaction was facilitated by Daniel Ek, the landlord and CEO of Spotify, and Luis von Ahn, the tenant and co-founder of Duolingo.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$4,929,468.10
Total Lease Value
$49,294,681.04
Net Landlord Cash Flow$4,929,468.10
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