SoundCloud takes 44K sf in Two Trees’ 50 West 23rd Street

Flatiron District property is the developer’s only Manhattan office building

50 West 23rd Street in the Flatiron District (inset: Two Trees' Jed Walentas)
50 West 23rd Street in the Flatiron District (inset: Two Trees' Jed Walentas)

Music-sharing service SoundCloud signed on to take 43,700 square feet in Two Trees Management’s office building at 50 West 23rd Street in the Flatiron District. 

The five-year lease is for the building’s ninth and 10th floors. The Berlin-based company will move its New York office from 111 Fifth Avenue, according to the Wall Street Journal.

Two Trees is currently making $25 million worth of upgrades to the building, including creating a roof deck, renovating the lobby and installing new heating and cooling systems.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Asking rents in the area have been about $70 per square foot.

The developer purchased 50 West 23rd Street in 2010 for $129.5 million, and the building remains its only Manhattan office property. It is currently at work on redeveloping the former site of the Domino factory in Williamsburg into a mixed-use project containing 2,300 residential units. [WSJ] — Tess Hofmann