Tenthwave Digital Signs Chelsea Sublease
Gus Delaporte Dec. 18, 2013, 7:30 a.m.
Tenthwave Digital has signed an 11,397-square-foot sublease of the entire 12th floor at 31 West 27th Street from AECOM, The Commercial Observer has learned.
The tenant will pay rent in the mid-$40s per square foot, according to data from CompStak.
Tenthwave, a digital agency that provides website design, digital advertising and social marketing services, operates offices in New York, Melville, San Francisco, Chicago, Washington D.C. and metro Detroit. The company’s website lists the New York office at 31 West 27th Street but Tenthwave did not immediately return an email seeking further comment.
Soho Properties acquired 31 West 27th Street for $45.7 million in 2009. The building was later sold to the Walnut Hill Group in 2012.
The 12th floor at the property was originally leased to Edaw, an architect-planner acquired by AECOM in 2005. Since the time of the acquisition, AECOM has been paying in the mid-$40s per square foot for the space.
In an attempt to consolidate space, AECOM leased over 90,000 square feet at 100 Broad Street last year, paying rent in the mid-$30s per square foot, according to CompStak’s data.
Freddie Fackelmayer and Adam Foster of CBRE represented the sublandlord in the lease. The brokers declined to comment on the deal.