Major League Soccer Secures Nearly Doubles Footprint in Relo Deal

Recently completing a major redevelopment, 2 Penn Plaza, now known as Penn 2, has attracted the Major League Soccer (MLS) organization. Currently located at 420 Fifth Avenue since 2015, the athletic organization will be relocating upon lease expiration sometime in 2025 to a 126,000-square-foot space spread across two tower floors within the 31-story building that sits directly over Penn Station. In addition to a dedicated 770-square-foot outdoor space, MLS will also have use of a 17,000-square-foot shared roof terrace and indoor pavilion as well as of a 280-person “town hall amenity space.” The recent lease signing will nearly double MLS’ footprint from its 64,200-square-foot office at the 5th Avenue location. Financial details of the deal were not released, but annual asking rents range $110 to $125 per square foot.