Adtech Firm Equativ Relocating to ESRT’s 1350 Broadway
By Nicholas Rizzi July 31, 2024 2:16 pm
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French advertising technology firm Equativ is getting some new Manhattan offices but keeping its 10018 ZIP code, Commercial Observer has learned.
Equativ signed a 10-year lease for 24,503 square feet on a full floor of Empire State Realty Trust’s 1350 Broadway, according to the landlord.
It’s unclear what floor Equativ is taking, but asking rent was in the low $60s per square foot, a spokesperson for ESRT said.
The Paris-based company was founded in 2001 as Smart AdServer and rebranded to Equativ in 2022, according to a press release. It currently has 20 offices across the world and opened its first New York City outpost in 2014.
Equativ will relocate to 1350 Broadway from its current digs about a block away at 498 Seventh Avenue. 1350 Broadway is a block north of Herald Square at the corner of Broadway and West 36th Street, while 498 Seventh is at Seventh Avenue and West 36th Street.
“We were drawn to 1350 Broadway for its access to ESRT’s Broadway campus’ state-of-the-art amenities and unbeatable location, right in the heart of New York City’s dynamic tech scene,” Lionel Bensoussan, the executive vice president of North America for Equativ, said in a statement. “We are thrilled to join the ESRT community in which innovation and technology are prioritized.”
Equativ’s lease comes on the heels of children’s clothing chain Carter’s signing on for a 24,592-square-foot office at 1350 Broadway. Thomas Durels, ESRT’s executive vice president of real estate, said in a statement that the owner’s “great balance sheet and reputation for service,” along with its environmental measures, helped seal the deals.
“We are pleased that Equativ and Carter’s will join our roster of high-quality tenants and benefit from the value of our offering,” Durels said.
ESRT’s Shanae Ursini handled the deal in-house along with Robert Lowe, Ron Lo Russo, Dan Organ, Peter Kerans and Samantha Perlman of Cushman & Wakefield (CWK). Savills’ Jim Wenk, Scott Bogetti and Alex Redlus represented Equativ in the deal.
Spokespeople for Savills and C&W did not immediately respond to requests for comment.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
