The Real Deal New York

PR firm forced out of 304 Hudson will take 20K sf at 100 Wall Street

PR Consulting expected to move from 304 Hudson Street in December or January
By Eddie Small | September 13, 2018 03:15PM

100 Wall Street (Credit: Witkoff)

With Walt Disney Corporation taking over Hudson Square, international public relations firm PR Consulting has found a new home in the Seaport.

The firm is leaving its office 304 Hudson Street — acquired by Disney/ABC in July — to take about 20,000 square feet at 100 Wall Street, according to sources familiar with the deal. They will occupy an entire upper floor of the building.

The lease is for 15 years, and asking rent was in the mid-$50s per square foot, according to sources.

PR Consulting was represented by Joseph Simon, Skyler Simon and Eric Thomas of Cushman & Wakefield. The landlord Barings was represented by JLL’s Scott Cahaly and Kyle Young.

PR Consulting will likely move into the new building in December or January.

Barings, formerly known as Cornerstone Real Estate Advisors, purchased the building in 2015 from Savanna for $275 million.  The tower stands 29 stories tall and spans almost 520,000 square feet.

Disney purchased 304 Hudson Street and five neighboring parcels in July for $650 million. The media powerhouse plans to build a new campus there to replace its complex on the Upper West Side, which it is selling for $1 billion. But Disney’s plan to build a new office tower required tenants to vacate 304 Hudson so it could be demolished. PR Consulting had 14,500 square feet on the seventh floor.