IMG Fills Out 304 Park Avenue South by Taking Another Floor
By Terence Cullen August 5, 2016 5:30 pm
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IMG Worldwide continues its takeover over of SL Green Realty Corp.’s 304 Park Avenue South between East 22nd and East 23rd Streets.
The global talent agency has signed a slew of expansions at the building in the last few years. And now the firm, whose clients include those in the sports and entertainment realms, has signed an 18,032-square-foot deal for the whole sixth floor, according to a press release from the landlord.
The deal gives IMG a total of 130,655 square feet at the 210,000-square-foot building. Steven Durels, the head of leasing for SL Green (SLG), said in the release that the 12-story structure is now fully occupied.
“We are pleased to once again work with IMG as they continue to grow,” Durels said in prepared remarks.
IMG will now occupy seven floors of the building. Before this lease, the company’s most recent expansion was last October when it took the entire 10th floor, which is also about 18,000 square feet. Asking rent in that expansion was $70 per square foot. IMG first signed at the building in 2008, CoStar Group indicates.
Terms of the firm’s current expansion were not immediately available. IMG’s existing leases run through January 2029, according to CoStar.
Michael Laginestra, Rocco Laginestra, Christopher Mansfield and Brian Dooley of CBRE represented the tenant, while Howard Tenenbaum and Gary Rosen of SL Green represented the landlord in-house. A CBRE spokeswoman did not immediately return a request for comment.
