Bitcoin

Coinbase <a href="https://commercialobserver.com/2024/04/coinbase-lease-one-madison-avenue/" target="_blank" rel="noreferrer noopener" data-wpel-link="external">plans</a> to move its New York headquarters to a more spacious office at One Madison in Manhattan’s Flatiron District. This decision marks the end of its tenure at 55 Hudson Yards. The cryptocurrency exchange will soon occupy a 67,208-square-foot space, doubling the size of its previous office. 
Details of the Lease and Financials 
The company entered into an eleven-year lease agreement earlier this month, though the financial terms of this deal remain undisclosed. Market comparisons suggest a significant rental rate, given that similar spaces in the building were leased at around $170 per square foot. In contrast, Coinbase’s former location at Hudson Yards had rent figures just above $100 per square foot. 
The transition comes at a favourable time for tenants seeking new agreements in Manhattan. Reports indicate that developers are offering substantial concessions to fill office spaces, driven by a desire to reduce the high vacancy rates throughout the city.&nbsp; 
Coinbase’s relocation strategy follows amidst regulatory challenges and a recent uptick in its financial performance. Despite facing legal pressures from federal agencies, the company’s profits have rebounded, accompanied by a significant rise in its stock value over the past year. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/18/coinbases-prospects-bitcoin-halving-impact-in-france/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Bitcoin Halving Brings Good Things For France: Coinbase Director</a> 
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Coinbase Secures New Manhattan Office, Departs Hudson Yards

The Crypto Times

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