Event Organization Company Quadruples Space in Move to PAS
Terence Cullen March 22, 2016, 5:21 p.m.
Superfly, a production and marketing firm, has inked a 16,267-square-foot deal at 381 Park Avenue South, according to a press release from the landlord.
The firm will move into the full-floor space on the 16th level of the ATCO Properties & Management-owned building between East 26th and East 27th Streets this September. The lease is for 10 years, the release indicates.
Asking rent in the deal was $68 per square foot, according to The New York Post, which first reported news of the deal.
“We are delighted that this prominent entertainment and marketing company has chosen our building at 381 Park Avenue South as its New York headquarters,” Kate Goodman, the co-president of ATCO, said in prepared remarks. “Our property is an ideal location for [technology, advertising, media and information services, or] TAMI companies seeking state-of-the-art connectivity and amenities.”
Superfly, which organized the Bonnaroo Music & Arts Festival in Tennessee, is relocating from 25 East 21st Street between Park Avenue South and Broadway, according to the release. At that building, Superfly Productions leases 4,444 square feet, according to CoStar Group.
John Cinosky and Peter Goldich of ATCO represented the landlord in-house for the deal at 381 Park Avenue South, while Marco Ellman of Ellman Realty Advisors represented the tenant.
Mr. Ellman told Commercial Observer the company was looking for something close to mass transportation, as well as an open office plan.
“They were looking for the opportunity to have great, natural light, high ceilings,” he said.