Situation Marketing Renews 17K SF at 469 Seventh Avenue

Situation Group, the parent company of marketing and advertising agency Situation Interactive, has renewed its lease at 469 Seventh Avenue, Commercial Observer has learned. 

The company — which specializes in brands offering live, experience-based performances — signed a nine-year renewal for its 17,058 square feet on the entire 13th floor of the building on the southeast corner of Seventh Avenue and East 36th Street, according to its owner, Meyer Equities. 

Eric Ferriello and Robert Tunis of Colliers represented the tenant while Meyer Equities handled it in-house via Eric Meyer. Asking rent was $59 per square foot.

The Meyer family bought the 269,000-square-foot building in 2006 for $90.8 million. In 2015, it was reorganized into three condominium units for the benefit of longtime tenant the Metropolitan Transportation Authority, which has since relocated.

The building is now 100 percent occupied. Tenants include health care marketing company Eversana Intouch Solutions and New York City Police Department’s Midtown South traffic unit.  

“The market seems to be really heating up, which is good for everyone,” said Meyer.

Situation, which moved into 469 Seventh in 2013, represents clients that include the Empire State Building, Ringling Bros. and Barnum & Bailey Circus, and The Metropolitan Opera. It also has an office in London.

One of Situation Marketing’s companies, Town Hall, represents nonprofits, educational institutions and mission-driven campaigns, while its Situation Project works with underserved students by offering trips to Broadway and private tours, career readiness, training and mentorships as well as support for community advocacy.

Colliers did not respond to a request for comment.