VaynerMedia takes 43K sf at Related’s LIC building

Digital agency already leases 90K sf at 10 Hudson Yards

From left: 2110 51st Avenue, Related's Stephen Ross and VaynerMedia's Gary Vaynerchuk (Credit: Facebook)
From left: 2110 51st Avenue, Related's Stephen Ross and VaynerMedia's Gary Vaynerchuk (Credit: Facebook)

Related Companies signed its first tenant at its Long Island City development the Point, with VaynerMedia taking 43,000 square feet at the Blanchard Building.

The digital agency — which is partly owned by Related — will use the space at 2110 51st Avenue for a studio production house, the New York Post reported. Vayner is already based at Related’s 10 Hudson Yards, signing a lease for roughly 90,000 square feet there in 2014.

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Last year, Related joined with GreenOak to buy the building at 2110 51st Avenue from longtime owner Mortimer Klaus, the founder of the men’s clothing brand Burma Bibas, for $62.5 million. The partnership also bought the 108,000-square-foot Paragon Oils & Burners building, about a block away at 21-00 49th Avenue, from Morgan Manhattan Moving and Storage, which had owned it since 1998.

Asking rents at the Blanchard are in the low $40s per square foot and the low $50s for the Paragon. The Blanchard spans 220,000 square feet with 35,000 square-foot floors, according to the newspaper. [NYP]Miriam Hall