New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Drive Shack Tees Up Headquarters Lease in Chelsea
Columbia Property Trust (CXP) has finalized a long-term lease with Drive Shack for the last available floor at 218 W. 18th St., one of a trio of properties it acquired from New York REIT in 2017. The full-floor deal brings the 165,586-square-foot office building in Chelsea to 100% leased.
Drive Shack will occupy the property’s 13,400-square-foot third floor as its new corporate headquarters. Other tenants at the property include Red Bull and Company 3.
“Chelsea continues to be a preferred destination for the world’s top tech, media and creative companies, and 218 W. 18th is located at its core,” said David Cheikin, SVP of strategic real estate initiatives at CXP.
The landlord didn’t disclose lease terms or brokerages involved in negotiations. Built in 1912 as a warehouse, 218 W. 18th is near CXP’s 249 W. 17th St., where Twitter recently renewed a 215,000-square-foot space for its New York headquarters.
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
