Ad Tech Firm ZEFR Leaves Madison Avenue for 10 Grand Central
Los Angeles-based video advertising company ZEFR is moving into Marx Realty’s 10 Grand Central in Midtown East, according to the landlord.
The video targeting platform is leaving nearby 292 Madison Avenue for 15,000 square feet on the 13th floor of the 35-story, Art Deco office tower at the corner of East 44th Street and Third Avenue. Asking rent in the 10-year lease was $86 per square foot.
JLL’s Cynthia Wasserberger, Sam Seiler, David Kleiner and Carlee Palmer represented the landlord in the deal, while Cresa‘s Jane Roundell and David Toomey handled the transaction for the tenant.
ZEFR “wanted to look at Midtown South initially and what they liked about 10 Grand Central is that it’s a Midtown South building but more conveniently located and with more amenities,” explained Marx CEO Craig Deitzelweig. “Initially they were attracted to another floor and we leased that space, so we moved some tenants around to get [them] a larger space. It’s just a testament to their desire to be in the building.”
Marx recently completed a $48 million renovation of the building that included a new lobby, a new four-story entrance on the East 44th Street side of the building, prebuilt office suites, and a 1930s-inspired lounge and terrace with a fire pit and plantings on the seventh floor.
Other tenants in the building include data management startup Crux Informatics, MassMutual, asset management firm Everside Capital Partners, the Association of National Advertisers and Dwayne “The Rock” Johnson’s company, Seven Bucks Productions.
Update: This post has been updated to correct the name and brokerage of the tenant brokers.