Trending

Hometeam subleases Flatiron space from SoundCloud

Senior services firm will take 22K sf at Two Trees' 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)

Hometeam, a provider of caregivers and nurses for senior citizens, is quadrupling the size of its offices, signing a one-year sublease for a 22,000-square-foot space in the Flatiron District from online audio platform SoundCloud.

Asking rent for the space, at Two Trees Management’s 50 West 23rd Street, was $60 per square foot, compared to SoundCloud’s $72 per square foot lease.

Savills Studley’s Michael Mathias represented Hometeam in the transaction. Colliers International’s Eric Ferriello represented SoundCloud.

Sign Up for the undefined Newsletter

Hometeam will move from its current 5,000-square-foot office at 525 Broadway in Soho, the New York Observer reported.

Two Trees bought the 13-story, 340,000-square-foot property, known as the Jewelcor Building, in 2010, paying $129.5 million. It’s in the process of making about $25 million in upgrades to the structure, creating a roof deck, fixing up the lobby and replacing building systems.

SoundCloud signed its five-year, 43,700-square-foot lease there in June of this year. [NYO]Ariel Stulberg

Recommended For You