Rudin Management signs 605,000 s/f 15-year lease expansion to Publicis Group at 1675 Broadway

New York, NY According to the Rudin Family, one of New York City’s leading private owner/manager/developers of first-class real estate, its longtime tenant, worldwide media company Publicis Groupe, has signed a 15-year lease expansion at 1675 Broadway. The firm will now occupy 605,000 s/f at the 35-story office tower, expanding by 25,000 s/f after a 580,000 s/f lease renewal and expansion earlier this year. The transaction presently holds the record as the largest leasing transaction in New York City year-to-date. The global advertising agency has been a tenant at the building for nearly three decades. With the new lease, Publicis will take additional office space comprising the entire 23^rd floor. Located at the corner of Broadway and West 52nd Street, the handsome green-gray Canadian granite office building was built in 1989 using the air rights over the adjacent Broadway Theatre. Designed by renowned architectural firm FXFOWLE, the 850,000 s/f property features an elegant Italian marble-clad lobby with vaulted ceilings, virtually column-free floor plates that can create 10 corner offices and an in-building, 60-car parking garage. “We are very pleased that this global media firm, which has been headquartered at our building for nearly three decades, has chosen to expand at 1675 Broadway, and we look forward to continuing to serve the firm’s office space needs during the coming years,” said Bill Rudin, co-vice chairman and CEO of Rudin Management Company, the operating arm of Rudin Family holdings. “This transaction further demonstrates 1675 Broadway and Midtown West’s appeal as a destination for technology, advertising, media and information (TAMI) companies.” Publicis Groupe was represented by Joseph Thanhauser and Gordon Ogden of Byrnam Wood. Building ownership was represented by Robert Steinman, vice president at Rudin Management Company. Asking rents are $75 per s/f. According to Steinman, the Rudin Family is currently marketing a contiguous block of 155,000 square feet on the 17^th through 22^nd floors that will be available for long-term lease starting in September 2015. These virtually column-free floors are each approximately 25,000 s/f. Rudin Management Company is a full service real estate organization managing the interests of the Rudin Family, which owns and manages one of the largest privately owned commercial and residential property portfolios in New York City. Among its real estate holdings are 16 office buildings containing approximately 10 million square feet of space and 20 apartment buildings comprising over four million square feet of residences. Known for its presence in the Midtown West office market, the Rudin Family has also partnered with the media giant Thomson Reuters in developing their North American headquarters at 3 Times Square. The Rudin Family, with partner Global Holdings, Inc., is also currently developing The Greenwich Lane, a 199-unit luxury condominium in the heart of Manhattan’s West Village.