EdTech firm subleases 27K sf from BuzzFeed

Teachers Pay Teachers is moving into 225 PAS

TRD New York /
Mar.March 08, 2017 04:15 PM

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.

Related Articles

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Neir’s Tavern (Credit: Google Maps)

City’s oldest bar, of “Goodfellas” fame, gets last-minute lifeline

Neir's Tavern (Credit: Google Maps)

Landlord to bar owner: You don’t have to go home but you can’t stay here

Fosun Property’s Bo Wei, Refinitiv’s David Craig and 28 Liberty Street (Credit: Getty Images, Google Maps)

Fintech firm signs on for massive lease at 28 Liberty

From left: 333 Johnson Avenue, 250 Livingston Street and 12 MetroTech Center (Credit: Google Maps)

City agencies dominated Brooklyn’s biggest office leases of 2019

Savannah's Christopher Schlank with One Court Square and Tishman Speyer's Rob Speyer with the JACX at 28-10 Queens Plaza South (Credit: Getty Images, One Court Square and CityRealty)

LIC dominated Queens office leases in 2019

Amazon CEO Jeff Bezos with 410 Tenth Avenue and 1251 Sixth Avenue with Mitsui Fudosan America’s John Westerfield (Credit: Google Maps, Getty Images, Wikipedia)

Amazon’s West Side deal tops list of Manhattan’s biggest December office leases