Gravity Media’s Center Still in Midtown South
Daniel Edward Rosen March 15, 2012, 4:52 p.m.
Gravity Media, a full-service marketing firm with offices in NYC and Costa Mesa, CA, has agreed to take a full floor at 114 W. 26th Street, one block away from its old office.
The marketing company will be moving into a 9,200 square foot space at 114 W. 26th Street, owned by Dean Colin Properties. The lease is for five years, according to Crain’s New York.
Gravity Media was represented by Albert Feinstein, a managing director of Bid on the City. Dean Colin Properties was represented by Eric Lassoff and Louis Prisco, both of Colliers International.
Asking rent for the property was $34 per square foot.
Gravity Media, which counts Prudential and the US Army among its many clients, will be moving into a space that formerly belonged to the owner of Dean Colin Properties’ office, said Crain’s.
Dean Colin Properties intends to eventually reposition the building to make it more of a draw to the booming tech sector in the Midtown South. In doing so, the asking rent should go well north of the current asking of $34.
“Now’s the time for them to put the money in and start increasing the rent,” Mr. Prisco told Crain’s.
Gravity Media will be joining tenants like Haymarket Media, the publishers of PRWeek and other magazines which has a fourth floor office in the building, and the Givat Haviva Education Foundation.
Gravity Media moved westward last summer when it opened a 1,000 square foot office in Costa Mesa. The company, which became the agency of record for Asian-American marketing and advertising for Caesars Entertainment Corp., was named the fastest-growing multicultural ad agency in the country by Ad Age magazine in 2011.