SL Green Realty Corp. today announced that Omnicom Group has extended its lease term for 15 years covering 167,003 square feet on floors 11-15 at 220 East 42nd Street, also known as “The News Building”. Omnicom is a global network of leading marketing communication companies with over 1,500 agencies located in more than 100 countries.
“Omnicom is one of the world’s great companies and we’re delighted to continue our long term relationship,” said Steven Durels, executive vice president and director of leasing and real property for SL Green.
Durels added, “Businesses continue to be attracted to The News Building because of its large floor plates, historic architecture and convenience to Grand Central Terminal. The building shares many of the physical characteristics that appeal to tenants in the technology, media and advertising industries.”
The News Building is a 37-story, 1.2 million-square foot landmark building located two blocks from Grand Central Terminal. It was designated a National Historic Landmark in 1998, and is one of the New York City’s major Art Deco presences. Other prestigious building tenants include WPIX TV, Tribune Company, The United Nations and Martin Clearwater & Bell.
Lee Feld of Feld Real Estate LLC represented Omnicom in the transaction, while SL Green acted on its own behalf.