Bilt, the innovative rewards program transforming how renters and homebuyers experience their housing payments, is making a significant move – relocating its headquarters to the vibrant Meatpacking District of New York City. This strategic expansion signifies Bilt’s continued growth and commitment to innovation within the nation’s leading financial and technology hub. The company has signed a long-term lease for a substantial 60,000-square-foot building at 837 Washington St., previously occupied by Samsung and currently undergoing extensive renovations. This ambitious project represents a multi-faceted investment, with Bilt planning to dedicate over $50 million to research and development, ultimately creating more than 600 new jobs within the New York metropolitan area. The move is slated for completion in early 2026, reflecting Bilt’s confidence in the city’s dynamic environment and its potential for future growth. The company’s relocation is being bolstered by crucial support from government entities, with Empire State Development providing $6.25 million in tax credits specifically designed to incentivize job creation and economic development within the Meatpacking District. This demonstrates a clear commitment to fostering innovation and attracting top talent.
Bilt’s expansion comes on the heels of a recent $250 million funding round, which dramatically increased the company’s valuation to $10.75 billion. This substantial investment underscores the market’s confidence in Bilt’s disruptive rewards platform and its potential for continued success. To date, Bilt has successfully raised over $850 million in venture capital, fueling its rapid growth and expansion across the United States. Currently, the rewards platform serves over 5 million members nationwide, employing approximately 200 individuals at its existing Lower Manhattan location. Looking ahead, Bilt is actively seeking to expand its team, focusing on key areas such as engineering, product development, marketing, and operations. The new Meatpacking District headquarters will be a state-of-the-art facility, designed to foster collaboration and innovation. The space will include modern conference facilities, dedicated collaboration areas, a stunning rooftop lounge offering panoramic city views, and convenient access to public transportation. Furthermore, a Neighborhood Cafe will be open to the public, creating a welcoming space for community engagement.
Bilt’s rewards program is designed to be incredibly versatile, allowing renters, homebuyers, condo and co-op owners, and even students to earn points on their housing payments. These earned points can be redeemed for a wide range of experiences, including travel – with partnerships encompassing over 100 major airlines and hotels – fitness classes, Lyft rides, and prescription refills at Walgreens. Recognizing the importance of supporting local communities, Bilt has also cultivated strong relationships with over 40,000 neighborhood businesses and restaurants, driving over $10 billion in spending within the local network. The company anticipates processing over $100 billion annually in housing-related spending, further solidifying its position as a leader in the rewards industry.
As Ankur Jain, Bilt’s founder and CEO, stated, "This 15-year commitment to the Meatpacking District represents our unwavering belief in New York as the epicenter of innovation." Bilt’s strategic move to the Meatpacking District isn’t just about expanding office space; it’s about solidifying its place at the forefront of a rapidly evolving rewards ecosystem, powered by a passionate team and a commitment to delivering exceptional value to its members. The company’s ambition extends beyond simply processing housing payments; it’s about creating a seamless and rewarding experience for every member, connecting them to a world of opportunities within their own communities and beyond."
