PayPal signed a 10-year lease for 261,000 square feet at 345 Hudson St. and 555 Greenwich St. in Hudson Square in one of the largest office deals of 2025 in Manhattan, N.Y., according to Commercial Observer. The deal closed in late December, but was not announced until January 12.

The new space more than doubles what PayPal has in the city right now (less than 100,000 square feet at 95 Morton St. in the West Village). The company is taking floors 10 through 12 at the Hudson Square buildings, which is a 1.2-million-square-foot property owned by Hudson Square Properties — a joint venture between Trinity Church Wall Street, Norges Bank Investment Management and Hines. Move-in is slated for early 2027 after a custom build-out with Venmo-branded innovation hubs and setups for hybrid work.

PayPal is headquartered in San Jose, Calif., but has had a Manhattan office since at least 2015. The East Coast office was initially built around Venmo after the company bought the mobile payment platform in 2013.

“PayPal’s lease at 345 Hudson and 555 Greenwich speaks to the larger trend shaping Manhattan’s office market of companies prioritizing best-in-class environments that deliver a differentiated experience to their workforce,” said Jason Alderman, senior managing director and head of New York at Hines. “By attracting top-tier tenants like PayPal, Hudson Square is reinforcing its position as a hub for innovation and growth in New York City.”

The buildings already have tenants like Audacy and Lerer Hippeau Ventures. Notably, Hudson Square has been transitioning from its old printing district roots into a tech and media corridor. Google and Disney both have space nearby.

“PayPal choosing New York for its latest expansion is a powerful endorsement of the talent, energy and innovation that define our tech ecosystem,” said Hope Knight, president and CEO of Empire State Development. “This investment is projected to create high-quality jobs and strengthen New York’s position at the forefront of global fintech.”