The Real Deal New York

Offerpop inks 45K sf sublease for PAS penthouse offices

TPG Architecture renting out its space at Reed Elsevier’s Flatiron property
By Mark Maurer | November 14, 2014 03:14PM

Digital marketing software firm Offerpop signed a seven-year sublease on the top two floors of Reed Elsevier’s 21-story Flatiron office building at 360 Park Avenue South, The Real Deal has learned.

The 45,000-square-foot space is currently leased to TPG Architecture, which primarily operates out of 132 West 31st Street in a space of similar size. Offerpop is slated to relocate its headquarters to 360 Park Avenue South by the middle of next month.

Asking rent was in the high $50s per square foot, brokers told TRD.

Mitchell Kunikoff of Lee & Associates represented the sublessee, while Paul Ippolito and Jim Landsaw of Newmark Grubb Knight Frank represented Anglo-Dutch publishing firm and landlord Reed Elsevier. Elsevier’s corporate U.S. headquarters is located there.

Offerpop, which raised $15 million in Series C funding in June, has been occupying the eighth floor at 36 East 31st Street.

The 365,000-square-foot Park Avenue South property, between 25th and 26th streets, features 15-foot-high ceilings.