The Real Deal New York

IPG subsidiary Momentum Worldwide coming to Brookfield Place

“Experiential marketing” firm will relocate from Hudson Square
By Rich Bockmann | December 12, 2017 03:50PM

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.