Ad Agency Moon Rabbit Hops Across SoHo to 7K SF at 594 Broadway
By Abigail Nehring February 8, 2024 2:54 pm
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Advertising agency Moon Rabbit will leave its coworking space at The Farm SoHo for greener pastures just four blocks north.
Moon Rabbit signed a three-and-a-half year lease for 6,604 square feet on the 12th-floor penthouse of 594 Broadway, according to landlord GFP Real Estate.
A source with knowledge of the deal said the move will double the size of Moon Rabbit’s current office footprint.
A spokesperson for GFP declined to provide the asking rent, but average asking rent for office space in Soho, NoHo, and the Lower East Side was $93.71 per square foot in the fourth quarter of 2023, according to a report by CBRE.
The independent ad agency launched in 2017 and specializes in campaigns for health care, biotech and consumer clients, according to its LinkedIn profile. Moon Rabbit also has offices in California and Singapore.
Newmark (NMRK)’s Joshua Berg and Alexander Kesseler arranged the deal for Moon Rabbit, while Neith Stone represented GFP in-house. Berg and Kesseler declined to comment.
Moon House’s new digs come fully furnished, according to GFP. The space had been occupied by cybersecurity firm With Secure until it departed last summer.
“The penthouse space at 594 Broadway was a perfect fit for Moon Rabbit, which wanted to be in a building occupied by like-minded creative firms as it transitioned away from a coworking space to a more traditional, private office — a trend we’ve seen a lot of over the last few months,” Stone said in a statement.
Production studio Hornet and piercing studio Studs have also recently signed on for space in the 250,000-square-foot building between Prince and East Houston streets. Nonprofit AIDS and homelessness advocacy organization Housing Works has occupied the ground floor retail space facing Crosby Street since the 1990s.
Abigail Nehring can be reached at anehring@commercialobserver.com.
