Twitter will remain at its Chelsea headquarters for an additional five years, after renewing its lease to 2030.
The social media giant, which currently takes up 215,000 square feet at 249 West 17th Street, is extending its initial 11-year lease that was due to expire in 2025, according to Commercial Observer.
The company first moved into a 149,000-square-foot space at the building in 2014, when it was owned by Savannah Partners. After being sold to New York REIT for $335 million that same year, the property was sold again last year to Columbia Property Trust.
The purchase, made alongside 218-220 West 18th Street, was part of a $515 million package sale as New York REIT liquidated.
Since expanding its footprint at 249 West 17th Street, Twitter has sublet sections of the building to Lyft, Netflix and Major League Baseball. [CO] — David Jeans