Spotify Music is known for being one of the top online streaming services for music lovers. It now has plans on expanding in 2018. The company has just executed a lease option adding 3 floors to the Silverstein Properties 4 World Trade Center in New York. In February, they completed a deal at the World Trade Center for an additional 378,000 square feet. The building itself is 72 stories. With 2.3 million square feet of space available and this new addition, it puts it at 100% occupancy.
Initially the completed February deal’s rent was $85 per square foot. Spotify has negotiated with the State of New York for $11 million in rent reduction over the course of its lease. This is due to the company keeping more than 800 jobs. In addition, one thousand new employees to its new offices with this expansion will hop on board. Even though Spotify Music will expand in 2018, the company will still keep its San Francisco office space located at 620 Avenue of the Americas.
A few companies have already signed on as tenants for Spotify’s expansion. Those companies include: The Port Authority of New York & New Jersey, the City of New York anchor 4 World Trade Center, New York Mets broadcaster SNY, PadillaCRT, and Hudson River Trading.
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