The Real Deal New York

Casper beds down on Park Avenue South

Venture-backed mattress startup taking nearly 32K sf at TF Cornerstone property

March 10, 2016 06:37PM
By Hiten Samtani and Konrad Putzier Twitter_logo_blue copy

230 Park Avenue South (Credit: Costar Group) and Casper CEO Philip Krim

230 Park Avenue South (Credit: Costar Group) and Casper CEO Philip Krim

Casper can now rest easy.

The e-commerce startup that sells what it calls “outrageously comfortable” mattresses to consumers online scored a new office space on Park Avenue South, sources told The Real Deal.

In a five-year deal, Casper is taking just under 32,000 square feet at TF Cornerstone’s 230 Park Avenue South, at East 19th Street. The company is said to be taking the entire 13th floor at the 386,000-square-foot property, as well as the 4,000 square-foot penthouse. It has already started work on its space, sources said.

Casper will pay rents starting in the mid-$70s per square foot for the space, sources said.

The startup, which was founded in 2013 and also has a showroom at 45 Bond Street in Noho, raised $55 million in a Series B round in June 2015. It will join a host of other venture-backed firms that have committed to the Flatiron District, including BuzzFeed at 225 Park Avenue South and Hulu at 79 Fifth Avenue.

Other tenants at 230 Park Avenue South include advertising agency Young & Rubicam. Cushman & Wakefield’s Ethan Silverstein, Mark Mandell and John Peters represented the landlord, while Casper was represented by The Square Foot’s Justin Lee and Jonathan Wasserstrum.

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