The Real Deal New York

Hudson Square space “In Demand” as entertainment company re-signs for 50K feet

March 06, 2013 02:00PM

From left: 345 Hudson Street and an aerial view of the Hudson Square area, set to be rezoned

iN DEMAND, the entertainment company that pioneered the delivery of video and television content on an “on demand” basis, has renewed its lease for nearly 50,000 square feet at Trinity Real Estate’s s 345 Hudson Street, a representative for the landlord told The Real Deal today.

The media service company will take the entire 47,500-square–foot 17th floor at the nearly 1 million-square-foot building between King and Charlton streets, a statement from Trinity said. iN DEMAND is owned by a partnership consisting of Cox Communications, Time Warner Entertainment and Advance/Newhouse.

The building is also the corporate headquarters of the publisher Penguin Group, Viacom and the Guggenheim Foundation.

Asking rents in the building are in the low $60s per square foot, per the representative.

The Hudson Square area has seen a spate of commercial leasing in recent years, as The Real Deal has reported. A proposed rezoning that would make way for new residential development by Trinity, the area’s largest landlord, and others will come up for a City Council vote tomorrow. Preservationists oppose the rezoning, saying that that the southernmost portions of Greenwich Village need to be protected by the city’s Landmarks Preservation Commission before the rezoning, lest out of scale development dwarf local buildings.

Trinity was represented in-house by Tom Lynch in the 13-year lease. iN DEMAND was represented by a CBRE trio of Eric Deutsch, Jason Pollen and Jared Freede. –Guelda Voien

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