Hometeam subleases Flatiron space from SoundCloud

Senior services firm will take 22K sf at Two Trees' building

New York /
Nov.November 25, 2015 10:33 AM

Hometeam, a provider of caregivers and nurses for senior citizens, is quadrupling the size of its offices, signing a one-year sublease for a 22,000-square-foot space in the Flatiron District from online audio platform SoundCloud.

Asking rent for the space, at Two Trees Management’s 50 West 23rd Street, was $60 per square foot, compared to SoundCloud’s $72 per square foot lease.

Savills Studley’s Michael Mathias represented Hometeam in the transaction. Colliers International’s Eric Ferriello represented SoundCloud.

Hometeam will move from its current 5,000-square-foot office at 525 Broadway in Soho, the New York Observer reported.

Two Trees bought the 13-story, 340,000-square-foot property, known as the Jewelcor Building, in 2010, paying $129.5 million. It’s in the process of making about $25 million in upgrades to the structure, creating a roof deck, fixing up the lobby and replacing building systems.

SoundCloud signed its five-year, 43,700-square-foot lease there in June of this year. [NYO]Ariel Stulberg


Related Articles

arrow_forward_ios
A rendering of River Ring and Two Trees' Development Principal Jed Walentas (River Ring, Marc Skrivo)
Two Trees’ massive project eyes “mad dash” to approval
Two Trees’ massive project eyes “mad dash” to approval
WATCH: Here’s what Two Trees has planned for its Williamsburg “River Ring” site
WATCH: Here’s what Two Trees has planned for its Williamsburg “River Ring” site
WATCH: Here’s what Two Trees has planned for its Williamsburg “River Ring” site
Two Trees CEO Jed Walentas and renderings of the controversial project. (Getty, James Corner Field Operations / Bjarke Ingels Group)
Two Trees says it will sell Williamsburg site if rezoning isn’t approved
Two Trees says it will sell Williamsburg site if rezoning isn’t approved
Two Trees’s Jed Walentas, Bjarke Ingels and a rendering of the project (Credit: Getty Images, BIG)
Two Trees unveils bold plan for Williamsburg towers, beach
Two Trees unveils bold plan for Williamsburg towers, beach
45 Main Street in Brooklyn and Two Trees principal Jed Walentas
Two Trees lands $85M refi for Dumbo’s
45 Main Street
Two Trees lands $85M refi for Dumbo’s
45 Main Street
Two Trees-linked LLC buys Brooklyn petroleum facility
Two Trees-linked LLC buys Brooklyn petroleum facility
Two Trees-linked LLC buys Brooklyn petroleum facility
The parking lot at 64 Scholes Street in Brooklyn (Credit: Google Maps)
Here is Arker Companies’ latest Brooklyn development
Here is Arker Companies’ latest Brooklyn development
Rendering of Domino Sugar Park (behind) and Two Trees Management's Jed Walentas. (Credit: COOKFOX and Michael McWeeney)
Two Trees’ waterfront park at Domino Sugar Factory mega-project opens
Two Trees’ waterfront park at Domino Sugar Factory mega-project opens
arrow_forward_ios

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

Loading...