111 Eighth AvenueInside Google’s new 111 Eighth Avenue digs, the search engine is facing off against ad giant Deutsch for space on the 14th and 15 floors, the New York Post reported.
Donny Deutsch’s firm has a 140,000-square-foot lease it inked with the previous owners that runs through 2013, and comes with a renewal option to expand at market rate — which the Post pegs at about $70 per square foot in the Meatpacking District. At the same time, Google wants to expand within its new building.
Deutsch has been searching for a new space in the area through Rob Silver of Newmark Knight Frank, but large chunks of office space in the Midtown South submarket are becoming difficult to find as tech companies proliferate in the area. Now, insiders are wondering whether Deutsch will go ahead and renew the lease against its new landlord’s wishes, or whether Google will offer enough cash that the ad agency willingly backs down. [Post, 1st item]