One of the largest office deals in 2025 sneaked in under the holiday-season radar \u2013 and the unreported lease was meaningful enough to catch the attention of the state\u2019s top economic development official.<\/p>\n
Digital commerce giant PayPal, the owner of mobile payment platform Venmo, signed a 10-year lease for 261,000 square feet at 345 Hudson\/555 Greenwich St. in Hudson Square. PayPal currently has under 100,000 square feet at 95 Morton St.<\/p>\n
Empire State Development president and CEO Hope Knight said, \u201cPayPal choosing New York for its latest expansion is a powerful endorsement of the talent, energy, and innovation that define our tech ecosystem. This investment is projected to create high-quality jobs and strengthen New York\u2019s position at the forefront of global fintech.\u201d<\/p>\n
345 Hudson St. Courtesy of Matt Ritchie<\/p>\n
Sources said PayPal will occupy three floors for a \u201cflagship\u201d workplace when it moves in 2027. The interconnected Hudson and Greenwich Street buildings comprise an estimated 1.2 million square feet.<\/p>\n
Hudson Square Properties is a joint venture of landowner Trinity Church, Norges Bank and Hines, the managing partner. Hines senior managing director Jason Alderman commented, \u201cHudson Square continues to solidify its position as a hub for innovation and growth in New York City.\u201d<\/p>\n
He said PayPal\u2019s move \u201creflects the larger trend shaping Manhattan\u2019s office market of companies seeking best-in-class workplaces that offer a differentiated experience for employees. This complex offers a unique blend of historic character and brand-new construction as well as access to our broader amenity network.\u201d<\/p>\n
PayPal will join other tenants at its new address, including Audacy, Lerer Hippeau Ventures and Hines itself. Hudson Square Properties saw several other major office leases in 2025 including Horizon Media\u2019s extension for 360,000 square feet at 75 Varick St., which also snared Equinox as a retail tenant.<\/p>\n
555 Greenwich St. Courtesy of Joe Thomas<\/p>\n
PayPal already has under 100,000 square feet at 95 Morton St. Jirapong \u2013 stock.adobe.com<\/p>\n
The JV has 6 million square feet of offices in 13 buildings in the area north of Canal Street that was the early 20th century home to the city\u2019s printing industry.<\/p>\n","protected":false},"excerpt":{"rendered":"One of the largest office deals in 2025 sneaked in under the holiday-season radar \u2013 and the unreported…\n","protected":false},"author":2,"featured_media":96636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[288,2361,9,11,10,3273,44837,1491,3274],"class_list":["post-96635","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-business","tag-leases","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-office-buildings","tag-paypal","tag-real-estate","tag-realty-check"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/96635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=96635"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/96635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/96636"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=96635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=96635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=96635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}