The Real Deal New York

Digital marketing firm to take 95K sf office penthouse at Grace Building

The company is moving from 2 Park Avenue
November 13, 2018 09:07AM

Grace Building at 1114 Sixth Avenue and CEO of Trade Desk Jeff Green (Credit: The Swig Company and The Trade Desk)

A California-based digital marketing firm has just inked a lease for the top three floors of Brookfield’s and the Swig Company’s Grace Building at 1114 Sixth Avenue.

Trade Desk, a public company based in Ventura, California with a market cap of around $5 billion, plans to take 95,580 square feet at the Grace Building’s three-floor penthouse, the New York Post reported. The firm is moving from 2 Park Avenue to nearly double its office space.

Terms of the deal weren’t immediately available, but asking rents in the 49-story tower’s lower floors are in the $80s per square foot. Floors just below the penthouse range from $140 to $150 per square foot, a source told the Post.

Cresa’s Carlo Brignardello, Richard Selig and Peter Sabesan represented Trade Desk. Brookfield and Swing were represented by CBRE’s Ken Rapp, Peter Turchin, Sarah Pontius, Zak Snider and Cara Chayet, and in-house by Brookfield’s Duncan McCuaig and Alex Liscio.

The building’s owners are planning to redesign a 30,000-square foot plaza behind the property and remove a barrier behind the plaza and 1100 Sixth Avenue, which Brookfield and Swig purchased last year. Removing the barrier will create a pathway from the Plaza to Bryant Park.

In February, the maker of Wild Turkey, SKYY Vodka and other spirits, Capari America, signed a 10-year lease for just under 65,000 square feet in the building. The previous month, Bank of America inked a lease for 127,000 square feet in the tower. [NYP] — Kathryn Brenzel