The video streaming service is taking the 30th-floor space in a three-year deal, the Commercial Observer reported. The asking rent was not clear.
Return Path had itself been subleasing the space from the employee-training software company Grovo, which announced last year it was heading to Two Trees Management’s 50 West 23rd Street. Return Path also leases the penthouse floor in the 41-story building.
DramaFever, best known for its streaming library of Korean television dramas, was recently headquartered at the Moinian Groups’ 72 Madison Avenue in NoMad. It wasn’t clear if the deal at the 41-story, 936,000-square-foot 3 Park Avenue was a location or an expansion.
Ira Rovitz and Todd Hershman at Newmark Knight Frank represented Return Path, and Jamie Dennison negotiated on behalf of DramaFever. [CO] – Rich Bockmann