Digital Media Firm Ziff Davis Takes 23K SF at 360 Park Avenue South
By Abigail Nehring June 11, 2024 1:58 pm
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Digital media conglomerate Ziff Davis will be the latest newcomer at 360 Park Avenue South.
Ziff Davis, which owns Mashable, Lifehacker, Ookla and other sites, signed a five-and-a-half-year lease for 23,038 square feet on the 17th floor of the 20-story building between East 25th and East 26th streets, according to CBRE (CBRE), which brokered both sides of the deal.
A spokesperson for the brokerage said asking rent was $110 per square foot.
The nearly century-old media company will move its headquarters 10 blocks north from the 15th floor of 114 Fifth Avenue. It’s unclear if the firm’s total footprint will change with the relocation. Ziff Davis also has eight other offices in the United States as well as locations in Europe and Asia, according to its website.
Ziff Davis was represented by CBRE’s Sacha Zarba and Jeff Fischer, who did not immediately respond to requests for comment.
Peter Turchin, Gregg Rothkin, Ross Zimbalist, Arkady Smolyansky, Hayden Pascal and Trevor Larkin, also of CBRE, arranged the deal for landlord BXP, which acquired the 389,000-square-foot office building in 2021.
The property became vacant the same year, after U.K.-based data analytics firm Relx, its sole tenant, decamped at the end of its 20-year master lease.
BXP has since undertaken $100 million in capital improvements, and recently started signing up new tenants, including wealth management firm Iconiq Capital, as Commercial Observer previously reported.
Turchin said in a statement that the work has transformed the building into “a truly modern workplace for the needs of today’s discerning corporate space users.”
Rothkin added in a statement the location has become “one of Manhattan’s hottest submarkets” thanks to the proximity to Madison Square Park, mass transit options, and vibrant dining and retail scenes.
Abigail Nehring can be reached at anehring@commercialobserver.com.
