The Union Square technology corridor has been extended once again with the announcement that digital advertising and media management software developer Centro Inc. has leased two full floors at historic 841 Broadway, owned and managed by The Feil Organization. Terms of the lease transaction were not disclosed.
Centro will occupy 26,235 s/f on the sixth and seventh floors of the 108,000 s/f building, said Robert Fisher, director of commercial leasing for The Feil Organization.
"This lease brings the building back to full occupancy and demonstrates the continued strength of the Midtown South market," said Fisher. "Centro is a dynamic firm and we hope to be able to accommodate their future growth in the building."
Founded in 2001, Centro builds media management software that automates parts of the digital advertising process. The Chicago-based firm has 11 offices around the United States and Canada. The company is expected to take possession of the space in the second quarter of this year.
Built in 1894, 841 Broadway is located at the intersection of 13th Street. The Feil Organization has completely renovated the Romanesque building, including a full cleaning and restoration of the terracotta façade. In addition, a brass-accented lobby inspired by the exterior was created, and new elevators and windows were installed. Security is provided by a lobby attendant and CCTV surveillance. Other tenants at 841 Broadway include Chelsea Hotels, Max Brenner, and data storage pioneer EMC.
The eight-story building is located just one block from Union Square Park in the heart of one of the most vibrant corridors in the city. The fourth busiest subway station in New York City, Union Square, serves the 4, 5, 6, L, N, Q and R trains, making Midtown South one of the most easily accessed areas in Manhattan. In recent years, technology and media firms have been locating in the neighborhood, as have major retailers.
John D. Ryan III, Konstantine T. Sepsis and David Cohen of Avison Young represented Centro in the company's lease at 841 Broadway, while Leonard Gambino of Schoenberg, Finkel, Newman & Rosenberg LLC provided legal counsel. Fisher represented The Feil Organization, with Brian Palumbo and Michele Frankel providing legal counsel. Tags: