One of the hottest venture capital investment firms will soon spread to two more floors at 200 Lafayette Street in Soho.
Real estate sources say Andreessen Horowitz, now on the third and fourth floors, will be taking over Chobani’s sixth and seventh floors when the yogurt giant moves to a new boutique office tower at 360 Bowery.
The venture capital firm’s lease is for space in the office condo at 200 Lafayette owned by LaSalle Investment Management, which purchased it from Brookfield in 2015 for $125 million on behalf of Swiss Re. AEW now manages the property. Brookfield still owns the retail and office space at the base of the building.
Real estate sources say Brookfield is getting ready to put that fully-leased condo on the market.
Andreessen, also known as a16z for the 16 letters between the “A” in Andreessen and the “z” in Horowitz, occupies 33,560 square feet and will eventually double in size to 67,120 square feet.
When it leased the original floors at the end of 2021, the asking rent was $90 a foot. Now, sources say, it is $130 per foot.
But a16z can afford it. Founded in 2009, the firm has $44 billion in committed capital, according to its website.
The office condo owners were represented by Barbara Winter and Carlee Palmer of JLL. The tenant was represented by Steven Rotter at Newmark.
Moncler is the office tenant on the second floor of 200 Lafayette and Eataly occupies the remainder of what was once all retail space with over 29,500 square feet.
The 1896 industrial loft building was purchased by real estate magnate John Zaccaro in 2006 for $20 million. The late Geraldine Ferraro, who married Zaccaro in 1960, was a member of New York’s House delegation and in 1984 was Walter Mondale’s groundbreaking running mate in the presidential race.
Jared Kushner and CIM paid Zaccaro and his son, John Jr., $50 million for the 130,000-square-foot building in 2012 with an eye on making it a cool office spot. It was quickly net-leased for 15 years to JCPenney, then led by the free-spending Ron Johnson, at a tab of $8 million a year.
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Johnson was booted at the end of 2013, and General Growth Properties, then led by Sandeep Mathrani, paid $148.75 million for the property. JCPenney gave back both the retail space and the two floors above, which were then leased to Chobani.
Home furniture retailer Pirch leased the retail in 2016 but left a year later and it remained vacant until Eataly took over that space in 2022.