BuzzFeed Signs Lease for New Space on Park Avenue South
News and culture website BuzzFeed has committed to 194,000 square feet of space at 225 Park Avenue South between East 18th and East 19th Streets.
First reported by Crain’s New York Business, BuzzFeed will move into offices on the 11th to 16th floors of the Midtown South property, built in 1909. The publication noted that the Port Authority of New York & New Jersey, relocating to 4 World Trade Center, previously occupied the space.
This is not BuzzFeed’s first property in New York; it also had also held space at 40 West 23rd Street and 200 Fifth Avenue.
Newmark Grubb Knight Frank’s Brian Waterman, Andrew Peretz, Courtney Adham and Brent Ozarowski represented Orda Management, the building’s owner. Olmstead Properties’ Steven Marvin represented BuzzFeed in the transaction. Neither party immediately responded to a request for comment.
The New York Post reported that asking rent in the building starts at $85 per square foot.
Founded in 2006, BuzzFeed is just one of the many technology, advertising, media and information companies that is putting down roots in trendy Midtown South, also known as Silicon Alley. Many of the site’s competitors, including Business Insider, Mashable and Gawker, call the neighborhood home.