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New York

Omnicom expands again at 195 Broadway

An interior shot of 195 Broadway
An interior shot of 195 Broadway

Advertising giant Omnicom Group continues to grow its footprint inside 195 Broadway, the New York Observer reported. The agency took an additional 26,414 square feet, bringing the total presence to 295,294 square feet. The L&L Holding Company-owned building is now fully occupied.

Asking rent ticked in at $47 per square foot. Omnicom, which first moved to the building in 2007, taking 160,000 square feet, now occupies floors 16 through 20 and 26 through 28. The building has a total of 1.1 million square feet.

Lee Feld of Feld Real Estate represented Omnicom in the deal. The landlord was represented in-house by David Berkey and Andrew Wiener. Berkey told the Observer that another company was eyeing the space.

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“We had another deal pending on this space,” he said. “That drove Omnicom to accelerate their decision and ask me to curtail those other negotiations.”

Around this time last year, Omnicom expanded its total presence to 260,000 square feet in a deal for the 17th floor, as previously reported.

Feld could not immediately be reached for comment, the Observer said. [NYO] —Zachary Kussin