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Suno leases 12,048 sq ft for first New York City office
The West Chelsea space totals 12,048 square feet on the fifth floor, with asking rents reported in the high $30s per square foot for 515 West 20th Street.
Generative AI music platform Suno has taken 12,048 square feet across the fifth floor of 515 West 20th Street in West Chelsea for its first New York City office, Commercial Observer has learned.
Current Real Estate Advisors represented the landlord, Eagle Point Properties, while JLL represented Suno, and the asking rent and lease length were not disclosed. The building is a seven-story property near the High Line, a short distance from the Hudson River, and Commercial Observer previously reported that asking rents at the address are in the high $30s per square foot.
The landlord-side broker said some executives are tied to the area and that the company is seeing more AI tenants moving into the submarket. He added that another 6,000 square feet were signed by an additional AI tenant in the same building two weeks earlier.
The deal arrives as Suno faces legal pressure in its core technology, Reuters reported that the company recently lost a copyright infringement case to German licensing agency GEMA. In related terms, the court ruled Suno violated copyrights by processing songs by artists represented by GEMA, and it was ordered to pay damages that have yet to be determined.