Health Care Marketing Firm 120/80 Takes 9K SF at 45 West 45th Street
By Isabelle Durso November 20, 2024 1:01 pm
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Health care marketing and communications firm 120/80 Group has moved its New York City office to 45 West 45th Street.
120/80 leased 8,995 square feet on the entire third floor of the 16-story Midtown building owned by Switzerland-based AFIAA, according to tenant broker Lee & Associates NYC. The lease runs for four years and four months.
The firm and its two agencies, 120/80 MKTG and AOx3, moved into the new space this month after relocating from 307 Fifth Avenue, Lee & Associates said.
“120/80 Group decided on 45 West 45th Street because the space was delivered in pristine plug-and-play condition,” Lee & Associates’ Woody King, who brokered the deal for the tenant with Alan Friedman, said in a statement. “It was a pleasure working with the leasing team on this transaction.”
Lee & Associates declined to provide the asking rent, but a report from Newmark found office rents in Midtown averaged $80.50 per square foot during the third quarter of 2024.
Cushman & Wakefield (CWK)’s Harley Dalton, Samantha Perlman and Pierce Hance represented the landlord. Spokespeople for AFIAA and C&W did not immediately respond to requests for comment.
“Having a presence in New York City serves as a distinct and measurable competitive advantage for our firm,” 120/80 President Gary Grates said in a statement. “The location of this office, combined with the on-site amenities, serves as an ideal location to conduct business, not only for our employees and leadership, but also for our clients and the many constituents we serve.”
AFIAA purchased the office building just blocks from Grand Central Terminal and Bryant Park for more than $125 million from Vanbarton Group in July 2019, The Real Deal reported. The property, on 45th Street between Fifth and Sixth avenues, is also home to bar and restaurant Valerie on the ground floor.
Isabelle Durso can be reached at idurso@commercialobserver.com.
