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Dropbox nearly triples the size of its office in midtown south

The cloud computing and storage company valued at around $10 billion will take the fourth floor at 50 W. 23rd St. The cloud storage company will join fellow tech firm SoundCloud as a tenant at 50 W. 23rd St.

Dropbox, the cloud computing and storage company valued at about $10 billion, is moving to a new office in midtown south.

The company last month signed a 31,270-square-foot lease at 50 W. 23rd St., taking the 13-story, 340,000-square-foot building's entire fourth floor. The deal stretches for five years and comes with a renewal option that Dropbox can use to extend its stay for an additional five years. The lease is a big expansion for the company, which is relocating from 33 W. 19th St., where it has about 11,666 square feet.

Dropbox is the second brand-name tech company to take offices at 50 W. 23rd St. in recent months. In June, the building's landlord, Two Trees Management, signed a deal with the online music company SoundCloud to take 43,000 square feet at the property for five years. Asking rents at the building are $72 per square foot.


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