New York & Tri-State + Downtown New York + Office | September 20, 2018

Spotify Grows Yet Again at 4 WTC

Spotify has added to its already mammoth presence at 4 World Trade Center, with a sublease from the Port Authority of New York and New Jersey. The music streaming service is subleasing 85,666 square feet from the bistate agency at the Silverstein Properties office tower, bringing its total footprint there to about 564,000 square feet.

Crain’s New York Business reported that the Port Authority disclosed the subleasing agreement with Spotify at a board meeting in July. The authority reported that the sublease would net it about $80.9 million over the 15-year life of the lease.

The sublease marks the Swedish firm’s second expansion since coming to 4 World Trade in early 2017. A few months after signing up for 378,000 square feet there, the company added 100,000 square feet, bringing the property to full occupancy. The latest deal makes it the tower’s second largest tenant after the Port Authority.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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