Z Realty Group leases 8,000 s/f to PayPal in TriBeCa

Z Realty Group has brokered a lease for PayPal's first brick-and-mortar location in TriBeCa. The San Jose-based online payment company moved into an 8,000 s/f ground floor space at 147 Hudson St. "The space is geared entirely to retailers, making their location more of a 'trade conference' than a 'storefront,'" said Zeynep "Z" Ekemen, the managing principal of the firm, which represented PayPal on the deal. Keith Radhuber of International Properties Group represented the landlord. "The building, known for its open space and towering windows, was an ideal location for the online money exchange company to introduce retailers to new technology the firm hopes to introduce," said Jamie Patricio, a PayPal spokeswoman. "The focal point is to showcase some of the tools and technologies that are going to be debuting over the next few months," she said. The new technology will allow customers to pay for merchandise in stores from their mobile devices, and even arrange for the shop to mail a purchase to the customer's home with a simple click of a PayPal button. PayPal looked at locations across Manhattan, including underneath the Highline near West 14th St., 57th and Fifth Ave., Times Sq. and East 33rd St.