IPG subsidiary Momentum Worldwide coming to Brookfield Place

“Experiential marketing” firm will relocate from Hudson Square

New York /
Dec.December 12, 2017 03:50 PM

Brookfield’s Ric Clark  and 300 Vesey Street (Credit: Brookfield)

Momentum Worldwide, a subsidiary of “Big Four” advertising giant Interpublic Group, is moving to Brookfield Place.

The agency is relocating from its digs in Hudson Square to Brookfield Property Partners’ 300 Vesey Street, where it signed a lease for nearly 60,000 square feet, sources told The Real Deal.

The “experiential marketing” firm – which specializes in sports-, music- and entertainment-related sponsorships for advertisers – has picked up some big sponsorship accounts over the last two years with the likes of SAP, Verizon and Chevron, reports in advertising trade publications show. Those accounts helped fuel the company’s growth and need for more space, a Momentum spokesperson said.

Momentum, which manages about $3 billion in global sponsorships, will be relocating its offices from Jack Resnick & Sons’ 250 Hudson Street.

At 522,000 square feet, 300 Vesey is the smallest office building at Brookfield’s sprawling 8.4 million-square-foot Downtown campus. Momentum’s space covers the top floor of the 15-story building (with nearly 15-foot-high ceilings and a private roof deck) as well as a portion of the 14th floor with river views. Scott Panzer, Robert Romano and Shannon Rzeznikiewicz at JLL represented the tenant in the 10-year deal.

Lower Manhattan is gaining popularity with the Mad Men set. The agency Rauxa, for example, inked a 50,000-square-foot deal at Brookfield Place’s 225 Liberty Street earlier this year. And Group M is set to anchor Silverstein Properties’ 3 World Trade Center with just shy of 700,000 square feet.

Momentum’s new home at 300 Vesey, however, mostly retains the Wall Street pedigree the campus was known for when it was called the World Financial Center.

Other tenants in the building include high-frequency trader Virtu Financial. Company CEO Vincent Viola, owner of the Florida Panthers and President Trump’s first nominee for Secretary of the U.S. Army, is reportedly in contract to sell his Upper East Side townhouse for $80 million, which would set a record for the most expensive townhouse in the city.

Financial services firm KCG Holdings and the New York Mercantile Exchange – whose parent company sold the property to Brookfield for $200 million in 2013 – also call the building home.


Related Articles

arrow_forward_ios
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
15 Park Row (Google Maps)
J&R Music founders sell Park Row apartment tower for $140M
J&R Music founders sell Park Row apartment tower for $140M
Claudio Del Vecchio has owned Brooks Brothers since 2001. (Getty)
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
Merchants Hospitality Inks Club Deal at Cachet Hotel (Google Maps, Playboy Club)
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Developers pitch New York City casino
Developers pitch New York City casino
Developers pitch New York City casino
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...