The Real Deal New York

Here’s how much Spotify is paying for its latest 4 WTC lease

Sublease from Port Authority will make music streaming company the WTC’s second largest tenant
September 19, 2018 04:00PM

4 World Trade Center, Spotify CEO Daniel Ek, an New Jersey Senator Kevin O’Toole (Credit: 4WTC, Getty Images, and Facebook)

Spotify is yet again expanding its footprint in Lower Manhattan, and is now the second largest tenant at 4 World Trade Center.

Spotify will add just under 86,000 square feet to its current 478,000 square feet at 4 World Trade Center, which houses the music streaming company’s U.S. headquarters, according to Crain’s. It will be subletting the extra space from the Port Authority of New York and New Jersey, which is also headquartered at the World Trade Center.

Spotify will sublease the 26th and 27th floors for 15 years and four months. The Port Authority will earn about $81 million from the lease.

Early in 2017, Spotify leased 378,000 square feet at 4 World Trade Center. It leased 100,000 more square feet later that year and now has about 564,000 square feet at the building in total with its latest addition.  [Crain’s] – Eddie Small