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Deals & Dealmakers

Omnicom signs second renewal lease at 220 East 42nd Street

Marketing communications firm Omnicom Group has renewed its lease at 220 East 42nd Street, the second time that the company has done so in the past six months.

The company has agreed to renew its 64,111 s/f lease at the building’s ninth floor. The deal is in addition to a 15-year extension that the company signed for 167,003 s/f of space last January.

“We are honored to once again work with Omnicom and their real estate representative with whom we have completed numerous transactions over the years,” said Steven Durels, the director of leasing and real property for SL Green.

The office tower, which is also called “The News Building,” stands 37 stories tall and contains 1.2 million s/f of space. It was constructed as the headquarters of the New York Daily News in the 1930s. Today, it continues to house news outlets such as WPIX TV and the Tribune Company. It also contains office for the United Nations and law firm Martin Clearwater and Bell.

Lee Feld of Feld Real Estate LLC represented Omnicom. Meanwhile, SL Green negotiated on its own behalf.

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