The Rudin Family announced that its longtime tenant, worldwide media company Publicis Groupe, has signed a 15-year lease expansion at 1675 Broadway.
The firm will now occupy 605,000s/f at the 35-story office tower, expanding by 25,000 s/f after a 580,000 s/f lease renewal and expansion earlier this year.
The transaction presently holds the record as the largest leasing transaction in New York City year-to-date.
The global advertising agency has been a tenant at the building for nearly three decades. With the new lease, Publicis will take additional office space comprising the entire 23rd floor.
Located at the corner of Broadway and West 52nd Street, the office building was built in 1989 using the air rights over the adjacent Broadway Theatre. Designed by FXFOWLE, the 850,000 s/f property features an Italian marble-clad lobby with vaulted ceilings, virtually column-free floor plates and an in-building, 60-car parking garage.
“We are very pleased that this global media firm, which has been headquartered at our building for nearly three decades, has chosen to expand at 1675 Broadway, and we look forward to continuing to serve the firm’s office space needs during the coming years,” said Bill Rudin, co-vice chairman and CEO of Rudin Management Company, the operating arm of Rudin Family holdings.
“This transaction further demonstrates 1675 Broadway and Midtown West’s appeal as a destination for technology, advertising, media and information (TAMI) companies.”
Publicis Groupe was represented by Joseph Thanhauser and Gordon Ogden of Byrnam Wood. Building ownership was represented by Robert Steinman, vice president at Rudin Management Company. Asking rents are $75 per square foot.
According to Steinman, the Rudin Family is currently marketing a contiguous block of 155,000 s/f on the 17th through 22nd floors that will be available for long-term lease starting in September 2015. These virtually column-free floors are each approximately 25,000s/f.