Content Platform Taboola Links Two-Floor Lease at 1115 Broadway
Terence Cullen July 27, 2016, 3 p.m.
Digital content marketing platform Taboola has inked a deal to relocate to 1115 Broadway between West 24th and West 25th Streets, according to a press release from Adams & Co.
The web developer is taking 48,010 square feet on the seventh and eighth floors of the 288,000-square-foot property, according to the brokerage, which represented the landlord in the deal. The lease is for 12 years.
Asking rent in the deal was $62 per square foot, according to The New York Post, which first reported news of the deal.
The company, which has partnered with the likes of MSN, BBC and USA Today, has brought in $160 million over seven fundraising rounds, according to venture capital tracker Crunchbase.
Taboola is currently based at 28 West 23rd Street between Avenue of the Americas and Fifth Avenue. The company leases 24,500 square feet at that location, according to CoStar Group, which is about half the size of its new offices.
“The two full floors at 1115 Broadway are a perfect fit for Taboola’s rapidly growing headquarters,” Jeffrey Buslik, who represented the landlord with colleague James Buslik, said in prepared remarks. “The tenant was faced with the challenge of finding nearly 50,000 square feet of Class A office space within a highly sought after submarket, which we were able to surmount.”
Taboola was represented by Jared Freede and Ben Friedland of CBRE, and declined to comment via a spokeswoman.
Apple Seeds, an indoor recreational center for children, occupies 14,860 square feet at the base of the building. The company recently renewed its lease in May for another seven years, as Commercial Observer reported at the time.