The Real Deal New York

Digital marketing firm inks lease at 1 WTC

Tower is nearly 80% leased
July 31, 2018 11:00AM

Undertone’s Mike Pallad and One World Trade Center at 285 Fulton Street (Credit: Undertone and Pixabay)

A digital marketing firm is trading its Midtown digs for the 77th floor of One World Trade Center.

Undertone inked a lease for 25,550 square feet in the office tower, the New York Post reported. The firm, based at 340 Madison Avenue, plans to move in January.

President Michael Pallad told the Post that the company had considered offices in Hudson Yards, Midtown South and Midtown, but settled on Lower Manhattan because many of its clients have moved to the area. The new space will allow the company to grow its workforce by up to 65 percent.

Asking rent was $69 per square foot. JLL’s Paul Ferraro and Deborah van der Heyden represented Undertone, and a Cushman & Wakefield team led by Tara Stacom represented the landlord, Durst Organization, along with Durst’s Eric Engelhardt.

In April, Durst tapped Newmark Knight Frank to take over leasing at the tower. The Undertone deal means the building is just about 80 percent leased. [NYP] — Kathryn Brenzel