Manhattan, NY New York City real estate development firm TF Cornerstone (TFC) made known a 10-year lease extension with commerce media company Criteo at its 387 Park Ave. South office building in the Flatiron District. The new lease, encompassing 21,000 s/f on the top floor and penthouse, coincides with the building reaching full occupancy.
Mike Morris, vice chairman of Newmark, represented Criteo in the transaction.
In addition to Criteo’s renewed commitment, TFC is expanding its own footprint within the building by leasing an additional 7,000 sq/f on the 8th floor, bringing its total presence to 59,000 s/f. Work-focused members club The Malin also opened its doors in October offering 20,000 s/f on the 5th floor.
“We’re pleased to continue our relationship with Criteo, a respected and growing organization we’re proud to have as a tenant,” said Jake Elghanayan, senior vice president of TF Cornerstone. “Returning to 100 percent occupancy at 387 Park Ave. South after the SVB’s bankruptcy demonstrates our commitment to delivering high-quality, flexible office spaces that meet the evolving needs of businesses like Criteo.”
“The Criteo lease extension exemplifies a top tech leader committing to the quality of its work environment in a building offering modern, creative design, desirable amenities and strong ownership. As always, TFC was a pleasure to work with as they continue to focus on a long-term vision for their top-notch, quality assets,” said Morris.
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