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Cryptocurrency security firm Fireblocks expands footprint in midtown Manhattan
commercial-real-estate

Cryptocurrency security firm Fireblocks expands footprint in midtown Manhattan

Cryptocurrency security firm Fireblocks signs 10-year lease for 31,837 sq ft at 5 Penn Plaza, relocating from nearby 441 Ninth Ave.

August 7, 2025
5 min read
Aljon Sayoc

Cryptocurrency security firm Fireblocks signs 10-year lease for 31,837 sq ft at 5 Penn Plaza, relocating from nearby 441 Ninth Ave.

Fireblocks, a digital asset security platform specializing in cryptocurrency, has signed a 10-year lease for 31,837 square feet at 5 Penn Plaza in New York City. This move marks a significant expansion from their previous office space of less than 10,000 square feet at 441 Ninth Avenue, located just a block away. The new office space occupies the 23rd and 24th floors of 5 Penn Plaza, directly across the street from Penn Station. This relocation reflects Fireblocks’ growing footprint in Midtown Manhattan as the company continues to scale its operations in the digital asset security sector. This lease underscores the increasing demand for office space by cryptocurrency and blockchain-related firms in prime urban locations, highlighting the sector's ongoing growth and integration within traditional commercial real estate markets.

FAQ

Q: What is the size of Fireblocks' new office space? A: Fireblocks has leased 31,837 square feet. Q: Where is Fireblocks' new office located? A: The new office is located at 5 Penn Plaza in New York City. Q: How does this new space compare to Fireblocks' previous office? A: The new space is more than triple the size of their previous office, which was less than 10,000 square feet. Q: What does this expansion indicate about the cryptocurrency and blockchain sector? A: It signifies the growing demand for prime office space by these firms, reflecting the sector's expansion and integration into traditional commercial real estate.

Crypto Market AI's Take

This significant expansion by Fireblocks highlights the continued growth and establishment of the digital asset security sector within major financial hubs. As companies like Fireblocks scale, it signals increased institutional confidence and investment in the broader cryptocurrency ecosystem. Our platform, Crypto Market AI, offers insights into such market trends, including how AI agents are being used to analyze market sentiment and identify growth opportunities within the digital asset space, mirroring the strategic expansion seen in the real estate decisions of leading crypto firms.

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For more details, visit the original article at CoStar.