Manhattan, NY Bradford Allen executed a 27,780 s/f lease with ProMedia Global at 250 Hudson St. in the city’s Hudson Square neighborhood.
Bradford Allen executive managing director Gordon Ogden and senior associate Ava Beganovic negotiated the lease on behalf of ProMedia. The building owner, Jack Resnick & Sons, was represented internally by executive managing director Brett Greenberg and managing director Adam Rappoport.
“Our priority is to find and negotiate the right real estate for our clients’ operational and business requirements,” said Ogden. “In this case, we identified a property with large floor plates able to accommodate ProMedia’s evolving business needs, with a second-generation installation that supported a faster and more efficient move-in.”
ProMedia is a production and media infrastructure company that builds and operates large-scale, purpose-built facilities and secure data environments for film and television production. The firm’s 15-year lease for a full floor at 250 Hudson represents an expansion from its current facilities in New Jersey.
“This deal underscores Hudson Square’s ongoing transformation into a leading media and creative hub,” said Beganovic. “The area’s proximity to a deep pool of designers, content creators and media talent makes it especially efficient for companies focused on recruiting and retaining creative employees.”
250 Hudson is located two blocks from the Hudson River, with immediate access to the Holland Tunnel. The area is served by the MTA’s Canal St. and Spring St. stations, as well as several MTA bus routes.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,