Tech Firm Relocates to Former NYT Building
Lauren Elkies Schram Oct. 9, 2014, 3:15 p.m.
PubMatic is relocating to the former New York Times Building at 229 West 43rd Street between Seventh and Eighth Avenues.
The technology platform, which powers the programmatic advertising strategy of leading publishers and premium brands, signed a seven-year, 18,911-square-foot office lease on the seventh floor in the 16-story 480,000-square-foot tower, now known as 229W43, according to an announcement from Transwestern. PubMatic outgrew its nearby space at 220 West 42nd Street.
Lindsay Ornstein, Kyle Williams and Aaron Kaufman of Transwestern represented PubMatic in the deal and Brian Waterman, Brent Ozarowski, Lance Korman and Jonathan Tootell of Newmark Grubb Knight Frank represented the building owner, Blackstone‘s Equity Office.
Asking rents were in the high-$60s per square foot, according to a spokeswoman for Transwestern, and PubMatic plans to move into its new digs around the end of this month.
“New York City continues to benefit from a booming tech economy, and 229W43 has become a hub for media and technology companies,” Ms. Ornstein said in a prepared statement. “This fact, paired with the creative layout and unique building design attributes, made it an ideal location for PubMatic.”
Other tech tenants in the building are Yahoo!, IAC, MongoDB and Collective.
The building at 229 West 43rd Street was home to The New York Times for nearly a century, from 1913 to 2007.