Live Nation takes 100K sf in the Meatpacking District

Events promoter takes entire building at 430 West 15th Street

New York /
Jan.January 04, 2017 02:34 PM

Live Nation is relocating from its longtime home in Times Square to the Meatpacking District, where the concert promoter has subleased 100,000 square feet in one of the neighborhood’s trendy boutique office buildings.

Ticketmaster’s parent company inked a deal to sublease the entire eight-story former parking garage at 430 West 15th Street from tenant Palantir Technologies, sources told The Real Deal.

TIAA gained control of the 100,000-square-foot building in early 2016, when it paid $107 million to Atlas Capital Group and the Rockpoint Group to acquire a 99-year ground lease on the property running through 2113.

Two years earlier, Atlas and Rockpoint had paid $17 million for the ground lease and began work on converting the existing six-story garage, adding four glass-walled stories to the top and knocking out floor slabs within the existing building to create 20-foot ceilings on the lower floors.

The developers pre-leased the entire building to the Palo Alto-based cyber security firm Palantir in a deal, with asking rents reported at $90 to $110 per square foot.

Neither Live Nation nor Palantir could be immediately reached for comment.

Palantir also maintains a smaller office nearby at 15 Little West 12th Street. Live Nation, meanwhile, currently net-leases the entire 230,000-square-foot building at 220 West 42nd Street through a 20-year deal company forerunner SFX Entertainment inked back in 2000. Over the years, Live Nation has sublet much of that space to other companies.


Related Articles

arrow_forward_ios
100 Print Shop Road in Enfield, CT and President of the Lego Group in the Americas Skip Kodak
Lego letting go of Connecticut office
Lego letting go of Connecticut office
Mark Zuckerberg, Jeff Bezos, Hudson Yards and San Francisco's Salesforce tower (Getty, Dead.rabbit/CC BY-SA 4.0/via Wikimedia Commons)
Tech office leasing plummeted in fourth quarter
Tech office leasing plummeted in fourth quarter
 Rudin Management’s Bill Rudin and 3 Times Square
Rudin gets tipsy at 3 Times Square
Rudin gets tipsy at 3 Times Square
Brookfield's Bruce Flatt, 2 Manhattan West; SL Green's Marc Holliday, One Madison Avenue (Manhattan West, Getty, Brookfield, SL Green)
The 10 biggest Manhattan office leases of 2022
The 10 biggest Manhattan office leases of 2022
HJ Kalikow's Peter Kalikow, CI US Holdings' Kurt MacAlpine and 101 Park Avenue (Getty, 101 Park Avenue, CI Financial)
Canadian wealth manager signs at HJ Kalikow’s 101 Park
Canadian wealth manager signs at HJ Kalikow’s 101 Park
KKR’s Henry Kravis, Related Companies’ Stephen Ross and Meta’s Mark Zuckerberg with 30 Hudson Yards (Getty, Rhododendrites CC BY-SA 4.0 via Wikimedia Commons)
Surviving the tech wreck: How the Manhattan office market could pivot
Surviving the tech wreck: How the Manhattan office market could pivot
From left: Newmark's Peter Shimkin and David Falk.300 East 42nd Street
Jamaican consulate inks 43K sf lease in Murray Hill
Jamaican consulate inks 43K sf lease in Murray Hill
KKR's Henry Kravis and Meta's Mark Zuckerberg with 30 Hudson Yards (Getty, Rhododendrites, CC BY-SA 4.0 via Wikimedia Commons)
KKR takes over Meta’s large 30 Hudson Yards office
KKR takes over Meta’s large 30 Hudson Yards office
arrow_forward_ios

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

Loading...