{"id":273764,"date":"2021-06-14T02:55:24","date_gmt":"2021-06-13T23:55:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-to-create-its-first-nyc-office\/"},"modified":"2021-06-14T02:55:24","modified_gmt":"2021-06-13T23:55:24","slug":"coinbase-to-create-its-first-nyc-office","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-to-create-its-first-nyc-office\/","title":{"rendered":"#Coinbase to create its first NYC office"},"content":{"rendered":"

“#Coinbase to create its first NYC office<\/strong>”<\/p>\n

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Coinbase, the San Francisco-based trading platform for bitcoin and other digital currencies, is setting up its first New York office, Realty Check has learned.<\/p>\n

The much-in-the-news<\/a> startup, with a market valuation of $85.7 billion based on outstanding shares, went public via a highly anticipated direct listing in April \u2014 the first major cryptocurrency company in the US to sell stock publicly.<\/p>\n

Now it\u2019s taking a bricks-and-mortar stake in the Big App<\/a>le. Coinbase has quietly subleased 30,000 square feet from Steven A. Cohen\u2019s Point72 Asset Management at Related Co.\u2019s 55 Hudson Yards, sources reported.<\/p>\n

It\u2019s a small chunk of Point72\u2019s total 339,000 square feet at the tower, but a big move by Coinbase, which has increased its number of users to 56 million as interest in cryptos soar. It\u2019s also interesting in that Hudson Yards has been mostly known for corporate, media<\/a> and law tenants \u2014 not tech.<\/p>\n

\u201cIt\u2019s a new brand of user not only for Related\u2019s Hudson Yards but also for the entire far West Side area,\u201d said one market-watcher.<\/p>\n

Reps for Related, Point72 and Coinbase couldn\u2019t be reached over the weekend.<\/p>\n

Coinbase makes it relatively easy for customers to trade cryptocurrencies by using a \u201cdigital wallet,\u201d and charges a fee for each transaction.<\/p>\n

The operation has been flagged for security breaches that affected a handful of customers but said it was taking steps to remedy the problem.<\/p>\n

Trading has been choppy since its listing, however. The stock soared initially, trading at more than $341 a share in April as the price of bitcoin soared to an all-time high of around $65,000. Shares on Friday closed at $223.93 a share.<\/p>\n

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\"Gap\"
Gap is reportedly one of the companies that are pulling sublease space off the market.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n

Meanwhile, the citywide sublease glut \u2014 which threatened to overwhelm the office market \u2014 is easing somewhat.<\/p>\n

According to a new CBRE report, the volume of new sublease offerings has begun to slow. Maybe more meaningfully, some tenants \u201care now pulling [sublease space] off the market\u201d as they anticipate reoccupying space as remote workers return to their desks, the study said.<\/p>\n

CBRE didn\u2019t say which companies were doing that. But we\u2019ve learned from CoStar listings and certain brokers that they include State Street Corp., Bank of Montreal, Gap, Inc. and Avon Cosmetics.<\/p>\n

The 2 million square feet removed from the sublease market this year are a small share of the 19 million up for grabs since the beginning of 2020. But a trend seems to be in the air as more than half of the removals occurred in April and May.
\u200a
Reflecting the improved retail-space market, trendy custom furniture chain ModShop has expanded from 26 W. 20th St. to larger digs at 40 E. 19th St., where it\u2019s taken 3,000 square feet for a new showroom. The location was formerly home to Beckenstein Fabrics. The asking rent was $100 per square foot.<\/p>\n

ModShop has locations in five cities, including in Los Angeles where it builds most of its products.<\/p>\n

The East 19th Street lease was brokered by Stacey-Robins Realty principal Stacey Kelz for the tenant and by Loria Management\u2019s Yitzak Loria for the landlord.<\/p>\n

********<\/p>\n

\"Chef
Chef Andrew Carmellini at a 2018 food festival.<\/figcaption>
Getty Images for NYCWFF<\/span><\/figcaption><\/figure>\n

Last week\u2019s openings of chef Andrew Carmellini\u2019s beautiful, two-level restaurant Carne Mare and his burgers-and-sweets spot Mr. Dips marked a milestone for Pier 17 in the Seaport District, Howard Hughes Corp.\u2019s $750 million transformation of the old South Street Seaport.<\/p>\n

All of the pier\u2019s eating venues are at last fully up-and-running after years of postponements. We first reported Carmellini\u2019s lease in 2018, but it remained dark even though construction mostly wrapped last year.<\/p>\n

Jean-Georges Vongerichten\u2019s The Fulton launched in 2019 but closed in March 2020. It\u2019s now running full-tilt after a gradual reopening in stages. <\/p>\n

David Chang\u2019s Fuku went dark for more than a year before being replaced by an outpost of his Ssam Bar.<\/p>\n

The missing eateries were the indoor-outdoor complex\u2019s aching black hole. But now, with Malibu Pier also open in the arcade and the rooftop Greens making customers happy as well (except in the rain), Pier 17 has finally delivered on its promise.\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Coinbase to create its first NYC office” Coinbase, the San Francisco-based trading platform for bitcoin and other digital currencies, is setting up its first New York office, Realty Check has learned. The much-in-the-news startup, with a market valuation of $85.7 billion based on outstanding shares, went public via a highly anticipated direct listing in April…<\/p>\n","protected":false},"author":1,"featured_media":273765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/sized-coinbase.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,109225,72881,76127,72851,109277,88416],"class_list":["post-273764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-6-13-21","tag-commercial-real-estate","tag-cryptocurrency","tag-hudson-yards","tag-jean-georges-vongerichten","tag-south-street-seaport"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/273764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=273764"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/273764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/273765"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=273764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=273764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=273764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}