The Real Deal New York

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News and entertainment website takes lease at 225 PAS, gets $4M state tax break
December 18, 2014 08:35AM

OMG! LOL! Win: BuzzFeed, the popular website known for its lists, quizzes and extensive use of GIFs, inked a lease at 225 Park Avenue South.

Asking rent in the building is $85 per square foot and up, according to Crain’s.

BuzzFeed received a $4 million tax break from the state in the deal. That incentive is linked to the company’s creation of 475 jobs and the retention of current positions for five years, according to the magazine.

Newmark Grubb Knight Frank’s Brian Waterman and Andrew Peretz represented the building, according to the newspaper, and Olmstead Properties’ Steven Marvin represented BuzzFeed.

Last month, the company signed a 43,000-square-foot sublease on the sixth floor of 40 West 23rd Street from AppNexus. Last year, BuzzFeed signed a two-year sublease for roughly 58,000 square feet from Tiffany at 200 Fifth Avenue.[Crain’s] — Claire Moses