Airbnb investor takes more pricey office space on Park Avenue

General Atlantic now occupies more than 90K sf at 55 East 52nd Street

TRD New York /
Sep.September 23, 2019 05:00 PM
Fisher Brothers' Winston Fisher and 55 East 52nd Street (Credit: Getty Images)

Fisher Brothers’ Winston Fisher and 55 East 52nd Street (Credit: Getty Images)

A private equity firm that’s one of the backers behind Airbnb is taking some more pricey office space on Park Avenue.

General Atlantic, the investment firm founded in 1980 by billionaire philanthropist Charles Feeney, inked a lease to expand by roughly 30,000 square feet at Fisher Brothers’ Park Avenue Plaza, the landlord told The Real Deal.

The deal brings General Atlantic’s footprint in the 45-story tower at 55 East 52nd Street to more than 93,500 square feet through 2039.

Asking rent for the space was in the low $100s per square foot.

General Atlantic has participated in at least two funding rounds in the home-sharing startup Airbnb: a $1.5 billion fundraise in 2015 that valued the company at $25.5 billion and another the following year that pushed its valuation to $30 billion.

Airbnb is planning to go public next year.

Rob Martin at JLL represented General Atlantic in its negotiations with Fisher Brothers, which was represented in-house by Marc Packman and Clark Briffel.

The landlord in 2016 completed a $35 million renovation of the property, where it recently signed the financial firm Evercore to an expansion for a total of 300,000 square feet.


Related Articles

arrow_forward_ios

SoftBank taps former Sprint CEO to fix WeWork, this borough could house Trump’s presidential library: Daily Digest

From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)

The Airbnb crackdown continues: City targets three more buildings

Sonder CEO Francis Davidson and 20 Broad Street

Airbnb competitor Sonder says after new funding round it’s now worth $1B

Mayor Bill de Blasio and Stanley “Skip” Karol, an Airbnb host (Credit: Getty Images and Youtube)

Airbnb host narrowly clears hurdle in First Amendment claim against city

Even with $155M in price cuts, this is still the most expensive home listing in LA

A West Village Airbnb listing (Credit: Airbnb)

Airbnb Luxe launched without listings in one of their biggest potential markets — why?

Luxury brokers insist they can take on Airbnb Luxe and win

Airbnb may follow Slack’s direct listing route

arrow_forward_ios