Casper Takes 32,000 SF at 230 Park Avenue South

May 11, 2016

Tech Office Spaces Author

Washington D.C. Team Market Expert | Assistant Director, Savills Studley | DC/MD/VA Licensed Real Estate Broker

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Don’t sleep on this disruptive tech company taking the mattress world by storm.

Casper, the young mattress company that is disrupting the multi-billion dollar bedding industry, has signed a lease for roughly 32,000 square feet on the top two floors of 230 Park Avenue South.  The building, which is owned by TF Cornerstone, also houses the marketing and communications powerhouse firm, Y&R.  Casper will occupy the entire 13th & 14th floors (featuring usable outdoor space and extra-high ceilings), and is reportedly paying in the mid-$70’s psf.

Casper currently occupies about 3,000 square feet on Bond Street and has experienced tremendous growth over the past several years.  As buyers (specifically millennials), continue to flock to the internet for simplicity and value, the company has been able to lure prospective customers with their favorable shipping an return process.  Apparently, they are doing something right as they are reportedly valued at over $550 million.

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