2U moving from Chelsea Piers to 55 Prospect St. in Brooklyn

by   CIJ USA
2017-02-17   15:35
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Education technology company 2U has signed a 78,000 sqf lease at 55 Prospect Street in Dumbo Heights, Brooklyn. Under the 12-year lease, the firm will occupy the entire eighth, ninth, and tenth floors and have access to the rooftop of the ten story, 255,000 sqf building. The company will relocate its headquarters from Chelsea Piers, where it occupies 20,000 sqf, by the end of 2017. Savills Studley Senior Managing Director Craig Lemle and Managing Director Nick Zarnin, along with Adam Schindler and Paul Schweitzer of Serten Advisors, represented the tenant in the transaction. Additionally, David Fleisher of Savills Studley negotiated a package that will provide over $20 million in incentives to the tenant.

"We were very pleased to advise 2U in what we believe will be a game-changing deal for the neighborhood. After an extremely thorough search that covered all of Midtown South, Lower Manhattan, Long Island City, and various parts of Brooklyn, we found the perfect long-term home for 2U at 55 Prospect Street,” said Zarnin. “The quality and flexibility of the space, as well as its location in the heart of the vibrant Dumbo Heights community, made it a great fit for an extremely collaborative company like 2U.”