Global advertising agency Publicis Groupe is consolidating its New York offices in Rudin Management’s 1675 Broadway, taking 580,000 square feet altogether in a renewal and expansion deal that is the year’s biggest so far.
Publicis is extending its existing 480,000-square-foot lease to 2031 and adding another 100,000 square feet, where a division called Publicis Worldwide North America will relocate from 950 Sixth Avenue by early 2016.
In total, Publicis will occupy the second through 16th floors and 24th through 30th floors of the 35-story tower.
Financial terms were not disclosed, but asking rents in the building are currently in the $70s per square foot, the New York Post reported.
Rudin Management CEO Bill Rudin told the newspaper that the deal “further demonstrates”’ Midtown West’s appeal to technology companies. Other TAMI firms in the area include Yahoo and Snapchat, both in the former New York Times building at 229 West 43rd Street, and Viacom at 1515 Broadway.
Publicis was represented by Byrnam Wood’s Joseph Thanhauser and Gordon Ogden. Robert Steinman represented Rudin in-house. [NYP] — Tess Hofmann