The Midtown South space formerly occupied by LivingSocial has been snapped up by San Francisco-based advertising platform AdRoll — the company’s first location in New York City.
AdRoll has signed on for a 7,080-square-foot, three-year lease on the fifth floor at 101 Fifth Avenue. Ross Zimbalist and Ben Fastenberg of CBRE Group represented AdRoll in the transaction, while Esther Zar and Daniel Lolai of Murray Hill Properties represented the landlord, listed as BSD Michael 101 LLC in city property records.
Rents for the space will run in the high $50s per square foot, according to CompStak data cited by the New York Observer.
The opening of AdRoll’s first Big Apple location follows a February announcement to set up shop here and more recent news of plans to open a European office in Dublin. [NYO] — Julie Strickland
Correction: Due to an editing error, a previously published version of this post misidentified the owner of 101 Fifth Avenue.