The Real Deal New York

Vice Media leases 73K sf in Dumbo

Hipster news company and its subsidiary moving into Two Trees' 55 Washington St.

October 24, 2016 10:37AM

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55 Washington Street in Dumbo and Shane Smith

55 Washington Street in Dumbo and Shane Smith

This week on Vice: The millennial-focused bad-boy media company and its subsidiary take a combined 74,000 square feet of space in Two Trees Management’s 55 Washington Street.

The Shane Smith-led news outlet Vice Media picked up 30,000 square feet in the 448,300-square-foot building and its full-service digital ad agency Carrot Creative signed up for 43,700 square feet, according to the New York Post.

The details of the lease were not available, but the average asking price in the building is $46 per square foot, according to CoStar Group data.

Carrot Creative, which Vice purchased in 2013, previously occupied a 5,159-square-foot space at 45 Main Street, also in Dumbo. Vice’s main headquarters are at 289 Kent Avenue, where it occupies about 70,000 square feet.

The Vice leases, together with several others, are replacing Etsy, which traded its 80,000-square-foot digs at 55 Washington for two properties nearby, at Jared Kushner’s TRData LogoTINY five-building Dumbo Heights complex.

The two additional new tenants at 55 Washington, home to several startups, are Equinox Fitness which was scheduled to open a 22,000-square-foot gym this spring, and Flocabulary, a company that uses music to teach history and math, which signed a lease for 9,340 square feet.

Downtown Brooklyn, including Dumbo, is one of the tightest submarkets in the region, with an availability rate of about 5 percent, compared to 20 percent throughout Brooklyn. [CO] — Chava Gourarie

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NYC Office Leases – January 1st 2011 to October 1st 2016 – 4,000 transactions – $500
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