Global marketing and technology firm LBi has signed a lease to expand their presence at 11 West 19th Street to 78,000 square feet.
“We have grown exponentially in both New York and across North America over the past two years,” said Judith Carr, president of LBi, in a prepared statement. “As a result we required additional space to house our growing team of strategy, creative, media and technology experts within 11 West 19th Street.”
LBi initially relocated to a 52,000-square-foot office spanning the third and fourth floors of the building from a 27,000-square-foot space at 295 Lafayette Street in 2010. The new lease, expanding to the second floor, increases their presence by 26,000 square feet.
“This transaction represented a great opportunity for LBi to occupy three contiguous floors, which will allow them to operate efficiently as the company continues to grow in Manhattan,” said Jamie Katcher, a director of Cushman & Wakefield and a broker on transaction, in a prepared statement.
Jamie Katcher was joined by colleague Frank Coco in advising LBi in the transaction as well as representing them in the initial lease. The building, owned by 11 West 19th Street Associates and managed by Savitt Partners, was represented by in-house broker and founder, Bob Savitt.
“They are very happy with the location of 11 West 19th Street,” Mr. Savitt added. The 280,000-square-foot building remains 100 per cent leased with notable tenants that include Time Warner, Natuica, VF Sportswear, Tory Burch, and Mergermarket.