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PayPal Inks 261K-SF Lease in Hudson Square

Hudson Square Properties, a joint venture of Trinity Church NYC, Norges Bank Investment Management and Hines, said Tuesday that PayPal had signed a 261,000-square-foot, 10-year lease in December at the 345 Hudson and 555 Greenwich office complex in Hudson Square for its new flagship workplace. PayPal will occupy three floors across the interconnected buildings in one of Manhattan’s most significant new leases of 2025.

“PayPal’s lease at 345 Hudson and 555 Greenwich speaks to the larger trend shaping Manhattan’s office market of companies prioritizing best-in-class environments that deliver a differentiated experience to their workforce,” said Jason Alderman, senior managing director and head of New York at Hines. “By attracting top-tier tenants like PayPal, Hudson Square is reinforcing its position as a hub for innovation and growth in New York City.”

A CBRE team led by vice chairmen Paul Amrich, Howard Fiddle and Neil King represented Hudson Square Properties. PayPal was represented by Freddie Fackelmayer and Sacha Zarba of CBRE.

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Hines' Alderman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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