Introduction to Clear Street’s Lease Extension
Growing fintech firm Clear Street likes its digs at Silverstein’s Four World Trade Center so much, it’s extending its lease by 10 years and adding an entire floor.
Lease Details
Clear Street will expand into the entire 46th floor of 4 World Trade Center. William Farrington
The company first moved to the tower in 2021. AP
Clear Street added 44,716 feet to expand its headquarters to 88,000 square feet. The company first moved to the tower in 2021 in a sublease from MediaMath and two years later, converted to a direct lease for the whole 45th floor. It will now expand into the entire 46th floor.
Reasons for Expansion
Clear Street COO Jon Daplyn said the tower’s “innovative design, spectacular views and proximity to transit have enabled our team to grow and thrive. Having additional space is essential to our future growth.”
Current State of the Tower
The 2.3 million square-foot tower is 97% leased. Other large tenants include Spotify, Zurich American Insurance, Duolingo, SNY, and Rippling.
Clear Street
Representation in the Deal
Silverstein was repped in-house by Keith A. Cody and Gordon L. Hough. Clear Street was repped by Norman Bobrow & Company’s Josh Berger.
Conclusion
Clear Street’s decision to extend its lease and expand its headquarters at 4 World Trade Center is a testament to the tower’s desirable location and amenities. The company’s growth and commitment to the space demonstrate the attractiveness of the area for fintech firms and other businesses.
FAQs
Q: How long is Clear Street extending its lease?
A: Clear Street is extending its lease by 10 years.
Q: How much space is Clear Street adding?
A: Clear Street is adding 44,716 square feet to its headquarters.
Q: What is the total size of Clear Street’s headquarters after the expansion?
A: The total size of Clear Street’s headquarters after the expansion is 88,000 square feet.
Q: What floor is Clear Street expanding into?
A: Clear Street is expanding into the entire 46th floor of 4 World Trade Center.
Q: What is the current occupancy rate of the tower?
A: The 2.3 million square-foot tower is 97% leased.
