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Acquisitions

Amazon Music enters as Rent the Runway departs

Amazon Music has signed a 40,000-square-foot lease at Rubenstein Partners + Heritage Equity Partners’ 25 Kent Avenue in Williamsburg, according to the Business Insider. Amazon Music, a streaming service founded just four years ago to compete with peers like Spotify, hopes to use the space as a studio or production space.

  • Others depart… Rent the Runway is giving up its 80,000-square-foot office space at Triangle Assets’ 10 Jay Street, which it’s paying in the mid-$70s per SF, TRD reported. The online service provides designer dress and accessory rentals on a short-term basis. 
  • Timing: Rent the Runway signed up for its space last May and the furniture was just delivered last week. Triangle Assets previously gut-renovated the former 221,500-square-foot warehouse that sits along the East River.
  • Sublet inventory balloonsHugo Boss, has listed its nearly 70,000 SF at 55 Water Street on the other side of the East River with an asking rent of $59 per SF through December 2031. [BI+TRD]

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