Chudnoff and Turkewitz of JLL represent subtenant in 29,416 s/f sublease

Jones Lang LaSalle has completed a sublease, totaling 29,416 s/f, for Alloy Digital LLC with Liquidnet Holdings Inc. at 498 Seventh Ave. The digital media firm signed a six-year lease at the 880,000 s/f, class A commercial office building. The subtenant, Alloy Digital, was represented by Alexander Chudnoff, executive managing director; and Dan Turkewitz, senior vice president, both with JLL. The sublandlord, Liquidnet Holdings, was represented by Howard Fiddle, vice chairman, and Joe Mangiacotti, first vice president, with CBRE Inc. The building is owned by George Comfort & Sons Inc. "We were able to find an ideal location for the digital media firm at 498 Seventh Ave. in the heart of Times Sq. South," said Chudnoff. "Alloy Digital is one the many tech firms that have relocated to the submarket from Chelsea Market, and other areas of the city. Although its new offices are roughly the same size as its previous location in terms of square footage, the digital media firm will be able to take great advantage of the greater efficiencies provided by 498 Seventh Avenue and consolidate its staff onto a single floor. As part of our negotiations for Alloy Digital, Liquidnet, the sublandlord, agreed to redevelop the space to the needs of the digital media firm and manage the construction process. We also obtained additional services that include 24/7 air conditioning and supplemental systems." Alloy Digital will occupy the entire 19th floor at 498 Seventh Ave., which is located between West 36th and West 37th Sts. The firm is relocating to the Times Square District office building from its previous offices at 151 West 26th St. in West Chelsea.