Pandora expands at SL Green’s 125 Park Avenue

Online music provider adds 51,000 sf to Midtown lease

New York /
Aug.August 11, 2015 12:25 PM

Online music provider Pandora Media is expanding its lease at SL Green’s 125 Park Avenue by 51,000 square feet, taking its total at the Midtown office building to almost 104,000 square feet.

The Oakland, California-based company signed a 10-year expansion lease at the 26-story prewar building, located near Grand Central Terminal at East 42nd Street. Steven Durels, SL Green’s director of leasing, cited Pandora’s “rapid growth” in announcing the deal.

Asking rents in the building are around $70 per square foot, according to the New York Post. Pandora signed its initial 10-year, 52,000-square-foot lease at the property in 2013, moving into the 19th and 20th floors of the building at around $65 per square foot.

William Iacovelli and Ramsey Feher of CBRE represented Pandora, while SL Green’s Howard Tenenbaum and Gary Rosen handled the deal in-house. [NYP]Rey Mashayekhi


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
CBRE's Emma Giamartino and Bob Sulentic (CBRE, iStock)
Flush with cash, CBRE is ready to spend
Flush with cash, CBRE is ready to spend
Turner & Townsend CEO Vincent Clancy and CBRE CEO Bob Sulentic (Turner & Townsend, CBRE)
CBRE pays $1.3B for 60% stake in London-based project manager
CBRE pays $1.3B for 60% stake in London-based project manager
SL Green CEO Marc Holliday (Getty, SL Green)
“The ink on the leases” shows tenants still want office space: SL Green CEO
“The ink on the leases” shows tenants still want office space: SL Green CEO
SL Green CEO Marc Holliday and One Vanderbilt (Getty)
SL Green asking record $322 psf at One Vanderbilt
SL Green asking record $322 psf at One Vanderbilt
SL Green CEO Marc Holliday with 461 Fifth Avenue and 220 East 197th Street in Fordham (SL Green, Google Maps)
SL Green pays $28M for full control of Midtown office building
SL Green pays $28M for full control of Midtown office building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...