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Jeremy Stoppelman’s Yelp Leasing 2 Whole Floors on Mad Av (But Hating It)

11 madison av

Yelp, the online consumer review and grudgefest is moving into new offices in the Sapir Organization’s building at 11 Madison Ave., between 24th and 25th Streets in manhattan. The company will lease the building’s entire fourteenth and sixteenth floors.

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Watch them begrudge the needless skip over the 15th floor.

The company will also use the building’s 14th floor setback for an outdoor space.

Yelp, Inc. is a multinational corporation headquartered in San Francisco, California, that operates an “online urban guide” and business review site. It was founded by Jeremy Stoppelman and Russel Simmons in 2004. The company’s website began as an email service for exchanging local business recommendations, and later introduced social networking features, discounts, and mobile applications. Yelp has extended its services to Argentina, Australia, Brazil, Canada, Japan, Mexico, New Zealand, Singapore and parts of Europe.

Yelp signed a 10 year lease for an average of $80 plus per square foot, according to the New York Post.

The online service also leases 60, 000 square feet of space at 100-104 Madison, between 29th and 30th Streets. It still has eight years left on that lease for those offices which are only ten blocks away from their new ones.

Alex Sapir and Rotem Rosen of the Sapir Organization own the building together with the CIM Group.

Formerly known as The Metropolitan Life North Building, 11 Madison Ave is a 30 story tall art deco skyscraper located between East 24th and East 25th Streets. Completed in 1950, it underwent a renovation which cost $400 million between 1994 and 1997. At the time its classic Rockwood Aday Variegated Alabama limestone and Deer Island granite exterior was completely refurbished.

It holds a total of 2.35 million square feet of office space.

Yelp’s neighbors will include Apple, Credit Suisse, Sony and William Morris Endeavor.



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