Cushman & Wakefield arranged a 3.5-year, 21,657 s/f off-market transaction for Dailymotion, Inc. at 50 West 23rd Street.
The online video technology company will occupy the building’s entire 10th floor for their U.S. headquarters.
Douglas Regal and Evan Algier represented the tenant in the transaction. Two Trees Management is the building’s landlord and audio distribution company SoundCloud was the space’s Assignor.
“50 West 23rd Street is a newly renovated office building that has become a hub for the tech and digital media community in NYC,” said Regal.
“This transaction unified Dailymotion’s U.S. headquarters as it allowed all employees to consolidate on one floor. Prior to this sublease, the employees worked from two, unconnected floors.”
The Vivendi-owned video technology company, which has offices in key markets around the world, recently announced a platform relaunch designed to prioritize premium video content.
Dailymotion’s content syndication and video player technology partners include BBC, VICE, Genius, Condé Nast Entertainment, Stadium Sports, and Universal Music Group.
“We were thrilled to execute on a strategy that required flexibility, collaboration and delivery on such a unique timeline in a submarket as competitive as Midtown South,” added Algier of Cushman & Wakefield.
50 West 23rd Street is a 340,634 s/f 13-story building that offers fully modernized spaces, new heating and cooling systems, and a renovated lobby and elevators. The 11th floor is a roof garden.