Video streaming platform Vimeo is relocating its New York corporate headquarters within the Penn District. The company, which belongs to Italian technology group Bending Spoons, has signed a lease for 15,172 square feet, equivalent to roughly 1,409 square metres, on part of the 15th floor of the 5 Penn Plaza office building. This was announced by the estate agencies involved in the transaction.
Vimeo's previous location was on the tenth floor of 330 West 34th Street, just half a block from its new premises. Details regarding the lease term and the exact rent were not disclosed. According to a CBRE report, average prime office rents in Midtown Manhattan stood at 85.53 US dollars per square foot in the third quarter of 2026.
Appeal of the Penn District for tech companies
In the transaction, Vimeo was represented by advisors Alexis Odgers, Joe Gervino, and Larry Zuckerman of Avison Young. Odgers stated that the neighbourhood had developed into one of Manhattan's leading office locations, driven by substantial investment in modernised buildings, improved transport links, and a wide range of amenities. At 5 Penn Plaza, Vimeo was securing a functional headquarters that met long-term workplace requirements and highlighted the district's appeal to media and technology companies.
On the landlord side, Mitchell Konsker, Daniel Turkewitz, Greg Wang, Christine Colley, Kristen Morgan, and Kate Roush of JLL led negotiations for Haymes Investment Company. Konsker described the deal as a significant success for the property, noting that the transaction confirmed that well-positioned prime assets with contemporary amenities remain in demand in the current market environment.
Lettings in the technology and security sector
The 5 Penn Plaza office building has recently recorded several notable transactions:
- —CFC USA, the US arm of a London-based cyber security insurance provider, signed a lease for 13,065 square feet in April.
- —Cryptocurrency security platform Fireblocks secured 35,000 square feet in the same building back in July 2025.
Vimeo's decision continues the trend of technology-focused occupiers choosing space in modernised existing buildings within established Midtown locations.
