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Deals & Dealmakers

Digitial media company doubles office space

Columbia Property Trust announced that it has signed Fullscreen Media to a 17,000 s/f lease expansion and three-year extension at 315 Park Avenue South, a 20-story, 331,000 s/f office building in Midtown South.

As a result, 315 Park Avenue South is now 95 percent leased, with only one full floor of current availability.

Columbia has signed more than 265,000 s/fof leases at 315 Park Avenue South since acquiring the building in 2015 and announcing a renovation plan to reposition it as best-in-class on Park Avenue South.

The building’s interior renovations were completed with the opening of its new main lobby off of 24th Street earlier this year.

Fullscreen, a global leader in media and app creation that produces and distributes digital content, already occupies 17,000 s/f across the entire sixth floor of the building. With the expansion, which encompasses the entire fifth floor, the company will double its footprint to 34,000 s/f.

Fullscreen also signed a lease extension for its existing space, which will keep the company on both floors through 2029.

In addition to Fullscreen, other new tenants that have leased multiple entire floors at the repositioned building include luxury gym Equinox, global investment management firm Winton Capital, digital media publisher BDG Media, independent research firm PitchBook Data, and digital asset exchange and custodian Gemini Trust.

“We are pleased to continue our relationship with Fullscreen and to see yet another innovative TAMI tenant expand their commitment to the building,” said David Dowdney, head of leasing for Columbia.
“We’ve cultivated a diverse mix of forward-thinking tenants at 315 as a result of our success in repositioning the property, and there is strong interest in the building’s one remaining available floor due to the leasing momentum we’ve generated.”

315 Park Avenue South is located on a prominent corner at 24th Street, one block east of Madison Square Park. Columbia has worked with L&L Holding Company, LLC, and their leasing team of David Berkey and Andrew Wiener to lease and manage the property, which also houses Columbia’s New York executive office.

“L&L is proud to partner with Columbia on the successful repositioning of 315 Park Avenue South, which continues to attract the city’s top creative and media companies that seek a newly-renovated and modernized home in the heart of Midtown South,” said Andrew Wiener, Director of Leasing of L&L Holding Company.

“Fullscreen’s expansion and lease extension is a validation of our efforts and we are thrilled we could accommodate the company’s impressive growth.”

315 Park Avenue South is one of six assets in Columbia’s Midtown Manhattan portfolio, which also includes 114 Fifth Avenue, 149 Madison Avenue, 218 West 18th Street, 229 West 43rd Street, and 249 West 17th Street.

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