Shopify Expands NYC Footprint By Leasing 60,000 Square Feet At 85 10th Avenue In Chelsea

The property involved in this lease transaction is located at 85 10th Avenue in Chelsea, Manhattan. The asset type is office space, with a total square footage of 60,000. The asking rent for this space is $115 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $115/ft
• Square Footage: 60,000
• Address: 85 10th Avenue
• Market: Chelsea, Manhattan
• Landlord: Steven Roth - Vornado Realty Trust; Jeff T. Blau - Related Companies
• Tenant: Tobias Lütke - Shopify
• Landlord's Rep: Colin Sullivan - Related Companies; Edward Riguardi - Vornado Realty Trust
• Tenant's Rep: Jamie Katcher, Sebastian Infante & Emilie Goldman - JLL

Shopify is expanding its NYC footprint by taking over the entire eighth floor at the mentioned address. This expansion reflects the company's strategic growth in New York City.