Apple ups space at 100-104 Fifth Avenue

August 17, 2011 08:46AM

Having secured its long-anticipated lease at Grand Central Terminal, tech retailer Apple has been busy picking up leases for more office space in the city.

According to the New York Post, Apple has inked a 45,000-square-foot deal at the Kaufman Organizations’s 100-104 Fifth Avenue in the Flatiron District to accommodate its iAd mobile advertising division.

Apple moved into the space on a short-term lease for only 10,000 square feet in January, but always planned to extend it for a longer time, as the division’s head count grows from 20 to 60.

Apple also signed leases for the 14th floor, which includes 16,079 square feet, and a large part of the 15th floor, the Post said. The asking rent was $55 a square foot.

Martin Horner of Jones Lang LaSalle represented Apple in the deal, while Grant Greenspan of the Kaufman Organization represented the owner.

The Kaufman Organization
, in partnership with Invesco, acquired the building in Dec. 2010 for $93.5 million and embarked on a repositioning of the property. It has secured leases with various new media companies since then, including Yelp. [Post, 1st item]