Netflix Studios Extends 9,943-SF Lease at 817 Broadway

Netflix Studios has extended its lease for 9,943 square feet at 817 Broadway, the Taconic Partners-owned office building just south of Union Square, keeping its footprint in a 14-story property that recent deals have filled close to capacity. CBRE’s Charles and Rocco Laginestra represented the landlord. Newmark’s David Falk, Jason Greenstein, Daniel Levine and Jordyn Comras represented Netflix. Asking rent for the space was $115 per square foot.

Why it matters

A renewal, not a new lease, is the quieter half of New York office leasing, but it carries its own signal. Netflix choosing to stay at 817 Broadway rather than relocate tells landlords and brokers that an 1895-built Class A building near Union Square still clears the bar for a corporate media tenant, even as newer towers compete for the same roster of tech and finance firms. For building owners in New York, the deal is a comp: $115 per square foot asking rent on nearly 10,000 square feet, signed by a tenant that already knew the space, is the kind of data point brokers use to set the next ask in the corridor. For tenants weighing a renewal against a move, the lesson is that staying put at a known rate can beat the cost and disruption of relocating, particularly once a building fills around you and comparable blocks grow scarce.

The numbers

Netflix’s extension covers 9,943 square feet at $115 per square foot asking rent, which works out to roughly $1.14 million a year if the deal lands near ask. The building has been filling quickly. Unity Technologies took 10,000 square feet in August 2025. Ledger, a Paris-based crypto firm, signed for 3,437 square feet in March 2026. GreenBarn Investment Group and Sabal Investment Holdings led a $128.5 million recapitalization of the property roughly a year ago, when it was already fully leased. SDC Capital Partners moved out of the building in July 2026, freeing space that newer tenants have since absorbed.

What’s next

Commercial Observer, which first reported the extension, said the lease term and the date Netflix originally moved into the space were not disclosed, and neither CBRE nor Newmark confirmed additional terms when asked. Those gaps mean the duration of Netflix’s renewed commitment to the block, and whether it signals further expansion or simply a holding pattern, are not yet known.