“Crooklyn” director moves ad agency to Brooklyn

TRD New York /
Oct.October 10, 2008 04:08 PM

 
Spike DDB, the advertising agency founded by director Spike Lee, announced today it will relocate from Manhattan to Dumbo.

Spike DDB, a partnership between Lee and DDB Worldwide Communications Group, signed a five-year lease for 5,000 square feet at 55 Washington Street, between Front and Water streets. Spike DDB is moving from a roughly 4,000-square-foot space at 437 Madison Avenue between 49th and 50th streets in Manhattan, according to Glenn Markman of Cushman & Wakefield, who represented Spike DDB in its site search and lease negotiations.

The “Crooklyn” director personally oversaw the site search, which began in earnest in July, Markman said.

“I think it just has a very special feel to the neighborhood,” he said. “I think Spike and other creative companies get it.”

Lee was born in Atlanta but attended John Dewey High School in South Brooklyn near Coney Island and his production company, 40 Acres and a Mule Filmworks, is based in Fort Greene.

 The asking rent at the new space is $27 per square foot, according to Caroline Pardo, director of leasing for the building’s owner Two Trees Management.

The company is getting more space for less money, said Cushman’s Markman, who said Lee’s company paid approximately $80 per square foot in monthly rent at the old space. In addition, Spike DDB is eligible for the Relocation & Employment Assistance Program, which offers tax credits for businesses who relocate from Manhattan to the boroughs, bringing the monthly costs of the new space even lower.  “In addition, to a great cool hip environment, it is a very cost-effective transaction,” he said.

Spike DDB will occupy a corner space with 12-foot ceilings and views of the Manhattan Bridge, Pardo of Two Trees said. The company will share space in the newly renovated building with “creative tenants,” she said, including graphic designers and artists.

Lee is picking up keys this week and the company expects to move in this month, she said.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

475 Park Avenue South (Credit: Google Maps)

Cohen Brothers Realty sues storied landlord to stay in Park Ave South building

Tracey Appelbaum (Photos by Emily Assiran)

At the desk of: Tracey Appelbaum

308 West 82nd Street and Real Capital Analytics founder Robert M. White Jr. (Credit: Google Maps)

Real Capital Analytics’ founder buys UWS building, leading last week’s I-sales

93 North 9th Street in Williamsburg, Thor Equities' Joe Sitt, and a KAWS statue (Credit: Google Maps and Jim Bowen via Flickr)

Acclaimed artist KAWS pays $17M to expand Williamsburg studio

181 Varick Street (Credit: Google Maps)

Claremont Companies buys Soho Marriott for $59M

arrow_forward_ios