Live Nation inked a 20,756-square-foot lease at Rockpoint Group and Highgate’s 412 West 15th Street, next door to its current Meatpacking District office.
The concert promotion company will continue to occupy the entire 100,000-square-foot building at 430 West 15th Street and expand its footprint in the neighborhood, Commercial Observer reported. Invesco signed a contract last month to buy that building for north of $150 million.
CBRE represented the landlord and Newmark Knight Frank represented the tenant in the deal at 412 West 15th Street.
Earlier this year, asset manager Tikehau Capital signed a lease for a record $195 per square foot at the 144,268-square-foot new development.
Meilman Family Real Estate and Highgate initially planned to build a hotel on the site, but in 2014 Rockpoint signed a 99-year lease for the property and the plans changed to office construction. [CO] — Konrad Putzier