The Real Deal New York

Amplify gives up 44K sf at Two Trees’ 55 Washington in Dumbo

Digital education firm, once a part of News Corp., will continue to lease 55K sf on the eighth floor

March 28, 2016 05:30PM

larry-berger-55-Washington-Street

From left: Amplify CEO Larry Berger and 55 Washington Street

After the mass layoffs comes the downsizing. Amplify, a digital education firm that was sold by News Corp. last year, is giving up a full floor at Two Trees Management’s 55 Washington Street in Dumbo.

Amplify, which creates digital curriculums and assessments, had initially signed a deal for both the eighth and ninth floors, for a total of just under 100,000 square feet of space. But it will no longer be leasing the 43,700-square-foot ninth floor, and instead signed a 10-year renewal for little less than 55,000 square feet on the eighth floor. 

Asking rents at the 337,000-square-foot property range between $45 to $50 per square foot, according to CoStar, the Commercial Observer reported.

Cushman & Wakefield’s Robert Lowe represented Amplify in the renewal deal, according to the Observer. Dan Conlon of Two Trees represented the landlord in-house.

Rupert Murdoch’s News Corp., citing losses of at least $371 million, laid off 500 employees at the firm last September. The following month, it sold the firm, according to news reports.

Another tenant at 55 Washington, Etsy, is moving to a 200,000-square-foot spread at 117 Adams Street and 55 Prospect Street later this year. The properties are part of the five-building office complex being developed by Jared Kushner’s Kushner Cos., Aby Rosen’s RFR Realty and Asher Abehsera’s LIVWRK. [CO]Dusica Sue Malesevic

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