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Deals & Dealmakers

New-tech deal tops leasing at 401 PAS

401 Park Avenue South
401 Park Avenue South

Sizmek Technologies Inc., a leading independent ad management and distribution platform, has signed a 21,100 s/f lease for the entire fifth floor of Meringoff Properties’ 401 Park Avenue South.

The lease commitment completes ownership’s leasing program during which 150,000 s/f was leased at the renovated and repositioned 12-story office building.

Featuring two recently renovated lobbies, all new building systems, and offering wide and open sun-drenched floors, the building, located in the heart of Midtown South, attracted burgeoning media, high-tech and digital enterprises.

“The response to our aggressive leasing efforts was extraordinary,” said Stephen Meringoff, principal.

“In less than a year, we entered into leases with a remarkable group of companies including Sizmek, WeWork and xAd, each of whom are leaders in their respective industries.”

They join an already impressive existing tenant roster that includes Time Warner Cable, the New York School of Interior Design and Vitech Systems Group, who renewed late last year.

Justin J. Royce of Cushman & Wakefield represented Sizmek in the transaction, while Mark S. Stein, senior vice president and Jason Vacker, vice president, of Meringoff Properties acted on behalf of ownership.

Gene Caiola of Kilpatrick Townsend & Stockton LLP acted for the tenant, while Robert Sorin, Esq., Jennifer Yashar, Esq., and Karen Lee, Esq., of Fried, Frank, Harris, Shriver & Jacobson LLP represented the landlord.

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