Spotify may soon sign a 73,000 sq. foot lease for the seventh floor of 620 Avenue of the Americas in Manhattan. The company provides online music streaming services and will be moving from its current location on 111 Eight Avenue. Rents were not available, but RXR Realty acquired 620 Avenue of the Americas for $500 million earlier this year, and had been marketing the space at $60 per sq. foot. According to Commercial Observer, Midtown South has become especially popular with technology companies in recent months, attracting tenets like Google.
Spotify intends to lease the seventh floor, which is the top floor of the building. Bill Elder, RXR Realty’s director of leasing said, “We thought we were going to have to build a marketing center on the floor to convey to tenants our vision but we started showing the space and tenants would come in and instantly get it. We have several interested parties for the floor.”