The Real Deal New York

EdTech firm subleases 27K sf from BuzzFeed

Teachers Pay Teachers is moving into 225 PAS
By Rich Bockmann | March 08, 2017 04:15PM

Teachers Pay Teachers, an online marketplace for educators to buy, sell and swap classroom materials, is going to be sitting at the cool kids’ table in Midtown South.

The educational technology company, founded by a former New York City public school teacher in 2006, signed a sublease for 27,000 square feet with Buzzfeed at 225 Park Avenue South, the trendy office building that’s also home to tech giant Facebook, sources told The Real Deal.

The short-term deal covers growth space BuzzFeed had been warehousing on the full 11th floor, and runs somewhere between three and five years. The rent wasn’t immediately available.

Teachers Pay Teachers, which is currently at Minskoff Equities’ 51 Astor Place, has hired heavily from the tech industry in recent years, reportedly poaching top talent from companies like Facebook, Foursquare, Google and Kickstarter.

In late 2014, BuzzFeed signed a lease for 200,000 square feet at 225 PAS, the former home of the Port Authority of New York and New Jersey. Landlord Orda Management combined the 19-story building with its shorter neighbor at 223 Park Avenue South via a shared stairwell to create a 600,000-square-foot building aimed at Midtown South’s technorati.