Twitter lands Chelsea HQ

TRD New York /
Jan.January 23, 2014 12:31 PM

Wasting no time after missing the boat at Edward Minskoff’s 51 Astor Place, where IBM recently edged them out as anchor tenant, social media giant Twitter has leased digs for a new New York City headquarters in Chelsea.

Twitter’s inked a deal for more than 140,000 square feet at Savanna’s 245 West 17th Street and 249 West 17th Street, adjacent buildings located between Seventh and Eighth avenues, according to Crain’s. Rents at the recently renovated locale are in the $70s and $80s per square foot, the magazine reported — a hefty discount from those at 51 Astor, where rates have reportedly topped $115 per square foot.

Twitter made an $18 million offering for space at 51 Astor in November, only to later be pushed aside by IBM’s Watson Group, which inked a deal for 120,000 square feet in early January.

The lease marks a major coup for Savanna, which purchased the two properties in November 2012 for almost $76 million and promptly set out on a major renovation.

Neither Savanna nor Twitter immediately responded to Crain’s request for comment. [Crain’s]Julie Strickland

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