Ad Tech Company Takes 12,083 SF at 44 West 28th Street
Lauren Elkies Schram June 24, 2015, 11:19 a.m.
Yellowhammer Media Group, an advertising technology company, is moving to new digs in NoMad to accommodate the firm’s growth, brokers in the deal told Commercial Observer.
The firm took 12,083 square feet, or the entire fourth floor, at 44 West 28th Street between Broadway and Avenue of the Americas in a 10-year deal, according to a spokeswoman for Newmark Grubb Knight Frank. NGKF’s Bernard Weitzman and Jordan Brustein represented Yellowhammer in the deal. The asking rent was $54 per square foot.
The new tenant will take possession of the space in August, said Jonathan Bernstein of Jonathan Barry Associates, and move in at the end of the year. Mr. Bernstein represented the landlord, Stellar Management, in the transaction.
“We identified the space before it came on the market,” Mr. Weitzman said in prepared remakrs. “What attracted Yellowhammer to 44 West 28th Street was the above standard base building work, a generous concession package offered by the landlord, Stellar Management, and the opportunity to remain near their current headquarters in NoMad.”
With the Stellar building deal, six-year-old Yellowhammer triples the size of its current office at 111 West 28th Street between Avenue of the Americas and Seventh Avenue.
The 16-story, 193,328-square-foot building at 44 West 28th Street is 100 percent occupied, with full-floor tenants, only, Mr. Bernstein said. Other tenants include CrossFit NYC on two floors; TechSpace, which provides tech-ready, flexible office space and virtual offices, on two floors; and digital marketing agency Foundry9, on one floor.