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Deals & Dealmakers

Digital production co. expands at Rudin building

The Rudin Family reported longtime tenant, Industrial Color Brands, is continuing to grow its footprint 32 Avenue of the Americas, one of the most historically significant telecom buildings in the City of New York.

The company, which provides digital production services to the fashion, retail, advertising, media and entertainment industries, has finalized a lease for an additional 9,000 s/f on a portion of the 20th floor and 9,000 square feet on a portion of the 21st floors at the property, as well as an extension on the space the firm currently occupies: 38,000 square feet on the entire 22nd floor.

The new lease and renewal brings Industrial Color Brands’ total presence at 32 Avenue of the Americas to 56,000 square feet and will keep them in the building until at least 2032.

“We’re thrilled to continue and expand upon our relationship with Industrial Color Brands, which has been a tenant at 32 Avenue of the Americas since 2005,” said Michael Rudin, Senior Vice President of Rudin Management Company, the operating arm of Rudin Family holdings.

“This expansion further demonstrates the continued vitality of Lower Manhattan as a magnet for leading creative, media and technology firms.

Robert Steinman, Senior Vice President at Rudin Management Company, represented building ownership in the 10-year leasing transaction, while Paul Ippolito of Newmark Knight Frank represented the tenant.

Acquired by the Rudins in late 1999 from AT&T, 32 Avenue of the Americas was one of the original office towers that set the tone for Lower Manhattan’s live/work environment. Since the acquisition, the family has invested significant capital to renovate, re-engineer and transform the property into one of the top internet buildings in the world.

Today, the 27-story, 1.2 million square-foot office tower boasts state-of-the-art infrastructure designed to support the needs of today’s media and communications companies, including two 140 foot radio towers, access to primary and emergency power sources, redundant HVAC systems, fuel storage capacity, access to over 50 telecommunication networks and significant floor load capacity.

Current tenants at the building, which is 100 percent percent occupied, include Dentsu, iHeart Radio, Digital Realty, Verizon, CenturyLink, T-Mobile, Coresite, XO Communications, Bartle Bogle Hegarty, NYU and Globo.
The property, which occupies a full block bordered by Sixth Avenue, Walker Street, Church Street and Lipsenard Street, is a designated New York City historical landmark building.

Formerly known as the AT&T Long Lines Building, the first transatlantic telephone call via cable was switched through 32 Avenue of the Americas in 1956. It connected Europe with the North American long distance network linking New York with 360 cities in the United States and Canada via wire for the first time in history.

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