The Real Deal New York

Pinterest inks lease at Bryant Park for first NYC office

Photo sharing app to take up 32,000 square feet in TIAA-CREF's building
May 06, 2015 09:30AM

Pinterest is opening its first New York City office at 475 Fifth Avenue.

The photo sharing website and app inked a lease at TIAA-CREF’s office building for 32,000 square feet, the New York Post reported. The company — which has its headquarters in San Francisco — will take up the entire fourth and fifth floors of the recently renovated 23-story property. Asking rents in the building range from $80 to $100 per square foot, the newspaper reported.

CBRE’s Sacha Zarba represented Pinterest. JLL’s Frank Doyle, Doug Neye and Cynthia Wasserberger represented the landlord.

Publishing company Penske Media Corporation inked a lease for 56,000 square feet at the building in January. Japanese company Muji has rented the retail space on the ground floor.

TIAA-CREF bought the 280,000-square-foot office building from Barclays Capital Real Estate for $144 million in 2011. [NYP, 3rd] — Claire Moses