William Macklowe Company and Principal Real Estate Investors agreed to lease more than 13,000 square feet at 386 Park Avenue South to California-based advertising technology firm the Trade Desk.
Asking rents at the property range from $57 per square foot to $75 per square foot. The Trade Desk, which assists marketers in buying advertising from exchanges, has been subleasing a 5,458-squae-foot space at 12 West 27th Street.
Cushman & Wakefield broker Paige Engeldrum is representing the Trade Desk in the sublease deal, while Kevin Daly of Rudin Management is aiding in the 386 Park Avenue South deal. CBRE brokers Ross Zimbalist, Paul Amrich and David Young represented Macklowe and Principal.