The Real Deal New York

S’well deal: Bottle maker inks 25K sublease at Flatiron building

Company is leasing office space on West 23rd Street from AppNexus
March 27, 2017 02:00PM

All’s well that ends S’well. The maker of reusable drinking bottles signed a two-year sublease for 25,000 square feet of space at a West 23rd Street office building.

AppNexus is the sublessor at 28-40 West 23rd Street, the Wall Street Journal reported. S’well’s original headquarters at 50 West 17th Street were a quarter of the size, but the growing company ran out of space there and had been forced to put sales staff in a separate office. The staff numbers at the company doubled in the past year.

Asking rents are in the $60s and $70s per square foot at the building.

In 2013, AppNexus signed a 10-year lease for 220,000 square feet at the building, which is owned by the Cohen, Roos and Carmel families.

Last year, Blue Apron inked a deal to take the full fifth floor from the advertising technology firm on a short term basis. In 2015, Estee Lauder expanded to 166,000 square feet at the building. [WSJ]Miriam Hall