Tech Firm PubMatic Takes 60K SF at 498 Seventh Avenue
Engineering firm Hazen and Sawyer extended their own presence there by a decade
By Mark Hallum August 5, 2024 11:36 am
reprints
Tech firm PubMatic is doubling its presence at 498 Seventh Avenue while civil engineering firm Hazen and Sawyer signed a 10-year extension in the same building.
PubMatic is moving from a sublease to a 60,000-square-foot lease to remain on the 18th floor and to move to the 19th floor as well. The lease also includes an 18th-floor terrace, per the New York Post, which first reported the deal.
The Midtown South Building is owned by George Comfort & Sons, Loeb Partners Realty and South Korean development firm JR AMC. Ownership declined to provide the length of the lease in the PubMatic deal but said asking rent in the building was in the $60 per square foot range.
“[The building] continues to attract and retain companies with its light-filled workspaces, flexible floor plates, convenient amenities and unmatched location at the center of the city’s most important transit hubs,” George Comfort & Sons CEO Peter Duncan said in a statement. “PubMatic’s decision to stay and grow at 498 Seventh is a testament to the premium experience we provide at the tower.”
Matt Coudert and Andrew Conrad negotiated on behalf of George Comfort & Sons in-house while Greg Taubin of Savills represented PubMatic and Curtis Dean of CD Commercial Real Estate Services handled the deal for Hazen and Sawyer, which occupies 44,000 square feet on the entire 11th floor.
Savills did not immediately respond to a request for comment while Dean declined to comment.
Ambient Enterprises consolidated its New York City offices in 498 Seventh with one 17,000-square-foot lease signed in September 2023; Securitas Security Services signed a 10-year, 19,500-square-foot deal in the building in April 2023; and design firm McKissack & McKissack signed for 14,113 square feet in June 2022.
Mark Hallum can be reached at mhallum@commercialobserver.com.
