Downtown Music Moves and Expands Soho Office
By Rebecca Baird-Remba August 19, 2019 10:42 am
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Downtown Music Holdings, a music rights manager, is leaving its current offices in the heart of Soho for a bigger space on the border between Soho and Hudson Square.
The company, which also operates a small recording studio in Soho, inked a long-term deal to move its headquarters to 26,399 square feet on the top two floors of 155 Avenue of the Americas, according to a press release from Newmark (NMRK) Knight Frank. The asking rent and length of lease weren’t disclosed.
The lease allows Downtown to more than double their current, 10,000-square-foot footprint at 485 Broadway, on the corner of Broome Street.
NKF’s Ross Perlman and Ryan Gessin represented Downtown in the transaction.
“155 Avenue of the Americas offers the perfect modern creative workspace for a company that continues to be at the forefront of today’s fast-changing music industry,” Perlman said in prepared remarks.
Downtown CEO Justin Kalifkowitz said that the new offices would allow his firm to “continue advancing our mission to create a more equitable and innovative music ecosystem around the world, while supporting the growth of our diverse music industry here at home.”
NKF’s Peter Shimkin, David Falk and Kyle Ciminelli represented the owner of the 15-story building at the corner of Spring Street and Avenue of the Americas. Trinity Church Wall Street, Norges Bank Real Estate Management and Hines own the property, which is part of a 12-building portfolio in Hudson Square.
