Omnicom Group Renews for Another Floor at the News Building
Terence Cullen July 20, 2016, 12:45 p.m.
Marketing communications firm Omnicom Group has signed its second renewal in six months at SL Green Realty Corp.’s 220 East 42nd Street, the landlord announced today.
Omnicom inked a deal to stay on the whole ninth floor, or 64,111 square feet, for 15 years, according to SL Green. It has been based in that space since September 2009, according to a spokeswoman for the landlord. Asking rent in the deal was $65 per square foot, she noted.
“We are honored to once again work with Omnicom and their real estate representative with whom we have completed numerous transactions over the years,” Steven Durels, the head of leasing for SL Green, said in prepared remarks.
SL Green represented itself (it wasn’t immediately clear who specifically worked on the deal), while Lee Feld of Feld Real Estate represented Omnicom in the renewal and could not immediately be reached for comment.
The media company now has 231,114 square feet leased up for the next decade and a half at the 1.2-million-square-foot building between Second and Third Avenues, according to SL Green. In January, Commercial Observer reported that Omnicom renewed for 167,003 square feet on the 11th through 15th floors of the property. That lease was also for 15 years, as CO reported.
Long known as “The News Building” because it was built for the New York Daily News, which moved to the Far West Side several decades ago before heading Downtown in 2012, the Midtown East tower is currently home to local TV news station WPIX and Tribune Company. The United Nations has several of its departments at the building as well.