PayPal signs big lease at Hudson Square

PayPal signs big lease at Hudson Square

One of the largest workplace offers in 2025 sneaked in under the holiday-season radar – and the unreported lease was significant sufficient to catch the consideration of the state’s top financial development official.

Digital commerce big PayPal, the proprietor of cell fee platform Venmo, signed a 10-year lease for 261,000 sq. ft at 345 Hudson/555 Greenwich St. in Hudson Square. PayPal at present has under 100,000 sq. ft at 95 Morton St.

Empire State Development president and CEO Hope Knight said, “PayPal choosing New York for its latest expansion is a powerful endorsement of the talent, energy, and innovation that define our tech ecosystem. This investment is projected to create high-quality jobs and strengthen New York’s position at the forefront of global fintech.”

345 Hudson St. Courtesy of Matt Ritchie

Sources said PayPal will occupy three flooring for a “flagship” office when it strikes in 2027. The interconnected Hudson and Greenwich Street buildings comprise an estimated 1.2 million sq. ft.

Hudson Square Properties is a three way partnership of landowner Trinity Church, Norges Bank and Hines, the managing accomplice. Hines senior managing director Jason Alderman commented, “Hudson Square continues to solidify its position as a hub for innovation and growth in New York City.”

He said PayPal’s transfer “reflects the larger trend shaping Manhattan’s office market of companies seeking best-in-class workplaces that offer a differentiated experience for employees. This complex offers a unique blend of historic character and brand-new construction as well as access to our broader amenity network.”

PayPal will be part of other tenants at its new deal with, including Audacy, Lerer Hippeau Ventures and Hines itself. Hudson Square Properties noticed a number of other major workplace leases in 2025 including Horizon Media’s extension for 360,000 sq. ft at 75 Varick St., which also snared Equinox as a retail tenant.

555 Greenwich St. Courtesy of Joe Thomas

PayPal already has under 100,000 sq. ft at 95 Morton St. Jirapong – inventory.adobe.com

The JV has 6 million sq. ft of places of work in 13 buildings in the space north of Canal Street that was the early twentieth century dwelling to the metropolis’s printing trade.

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