Streaming Service Philo Takes 8K SF at One Willoughby Square
By Isabelle Durso September 9, 2024 4:50 pm
reprints
Streaming service company Philo has signed a five-year lease for office space at JEMB Realty’s One Willoughby Square in Downtown Brooklyn.
Philo is taking 8,100 square feet on the 18th floor of the 500,000-square-foot, 34-story office tower at 235 Duffield Street, according to Kaufman Organization’s Catherine Vilar, who brokered the deal for the tenant.
A spokesperson for JEMB said the asking rent on the 18th floor is “in the high $60s” per square foot.
“This is Brooklyn’s premier office destination and it’s attracting very high-quality tenants, even in a difficult market,” CBRE (CBRE)’s Paul Amrich, who brokered the deal for the landlord along with Neil King, Zachary Price, Alexander D’Amario and James Ackerson, said in a statement. “One Willoughby Square has set a new standard for office space in Brooklyn and its success is proof of that.”
A spokesperson for Philo did not immediately respond to a request for comment. The deal was first reported by Crain’s New York Business.
The deal marks Philo’s first office in New York City as the firm “examined its options to maximize convenience for its employees, most of whom reside in Brooklyn,” according to JEMB. The streaming service — which has other outposts in San Francisco and Cambridge, Mass. — has major investors such as The Walt Disney Company, HBO, Mark Cuban’s Radical Investments, and Paramount.
Philo will move into Brooklyn’s tallest office tower, which features private outdoor spaces, conference facilities and views of the Manhattan skyline, according to the building’s website.
Several tenants have flocked to One Willoughby Square in recent years, including marketing firm Big Spaceship, which leased 5,000 square feet on the 17th floor in August 2023, as Commercial Observer previously reported.
Others in the tower include FXCollaborative, which designed the tower and occupies 40,000 square feet. Tenants also include the Ms. Foundation for Women, consulting firm Gemic and architecture firm Architecture Research Office.
Isabelle Durso can be reached at idurso@commercialobserver.com.
