eBay Signs 35,000 SF Office Lease in Manhattan
- May 04, 2012
By Veronica Grecu, Associate Editor
Just months after Twitter opened its first New York office and Facebook revealed details about adding an engineering center to its existing office, it seems to be eBay’s turn to take a bite of the Big Apple. The online auction and shopping site recently announced plans to open a technology center in Manhattan’s Chelsea neighborhood.
The San Jose, Calif.-based company signed a 10-year lease for the full third floor at 625 6th Avenue in the Flatiron District and hopes to hire more than 200 developers, data scientists and statisticians over the next few years. Chris Dixon, co-founder of Hunch (a recommendation engine which eBay acquired in November last year), will run the company’s newest Technology Center of Excellence.
With a grand opening scheduled for this fall, the new eBay office will feature a large public event area, a dedicated space for start-up and entrepreneur incubation and a permanent installation of the new digital payments evolution lead by PayPal.
Judging from the high rent rates in that area of Manhattan, which range from $45 to $60 per square foot because of low inventory, it is estimated that eBay leased the 35,000 square feet of space for around $2 million. As reported by The Commercial Observer, eBay and the building’s landlord, Chelsea Green Associates, agreed on seven months free of rent to cover the costs of renovation and office upgrading.
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Photo via Wikipedia, author Beyond My Ken