Cryptocurrency company Ripple signs for Chelsea office

San Francisco-based firm inks 7K sf lease at 155 West 23rd Street

New York /
Jan.January 19, 2018 06:10 PM

From left: 155 West 23rd Street, Kaufman Org’s Grant Greenspan and Ripple’s Chris Larsen (Credit: LinkedIn and Ripple)

Blockchain technology company Ripple, which created the cryptocurrency XRP, is opening an office in Chelsea, the firm said.

The San Francisco-based company signed a 6,933-square-foot lease at the Kaufman Organization and Goldman Sachs Asset Management’s 155 West 23rd Street.

At its peak in early January, All XRP coins in circulation were worth almost $300 billion. The price crashed in recent weeks, reportedly costing co-founder Chris Larsen $44 billion on paper by Wednesday. Over the past two days the currency rallied by around 50 percent, to $1.547 as of Friday afternoon. The firm’s investors include Google Ventures, Seagate, Standard Chartered, CME Ventures, Accenture and Andreessen Horowitz.

Cushman & Wakefield’s Sebastian Infante brokered the lease. Asking rents were in the $60s per square foot and Ripple is expected to move in this quarter.

Kaufman bought the leasehold on the 12-story, 71,000-square-foot building, which is part of the former Ring portfolio, from Extell Development in 2015. The new owners spent $10 million on a gut renovation.


Related Articles

arrow_forward_ios
Illustration of Mayor Eric Adams (Getty; Illustration by Kevin Rebong for The Real Deal)
Oh, rats! Eric Adams contests summons for infestation
Oh, rats! Eric Adams contests summons for infestation
Brookfield's Bruce Flatt with 1100 Newark Turnpike (Loopnet, Brookfield)
Brookfield buys CSX industrial site in Northern New Jersey for $67M
Brookfield buys CSX industrial site in Northern New Jersey for $67M
Rudin Management's Bill Rudin and 3 Times Square (Getty, Epicgenius, CC BY-SA 4.0 - via Wikimedia Commons)
Accounting firm leases at Rudin’s 3 Times Square
Accounting firm leases at Rudin’s 3 Times Square
198 Scholes Street, 65 Kent Avenue, 506 DeKalb Avenue and 11 Gunther Place (Illustration by the Real Deal with Getty, Google Maps)
Avi Philipson deal to acquire All Year portfolio is back on
Avi Philipson deal to acquire All Year portfolio is back on
SL Green's Marc Holliday, AECOM's Troy Rudd and 100 Park Avenue (Getty, AECOM, LoopNet)
Construction giant saws off half of Park Avenue office space
Construction giant saws off half of Park Avenue office space
From left: McSam Hotel Group's Sam Chang and SL Green's Marc Holliday with 711 Seventh Avenue  (Getty, Google Mpas, SL Green)
Times Square hotel developer sues neighbors over delayed demolition
Times Square hotel developer sues neighbors over delayed demolition
Mark Zuckerberg with 55 and 30 Hudson Yards
Meta to cut Hudson Yards office space
Meta to cut Hudson Yards office space
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
arrow_forward_ios

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

Loading...