Leading Technology & Digital Marketing Firm, Red Ventures, Signs 23,000-Square-Foot Lease at Clarion Partners’ 100-104 Fifth Avenue.
Clarion Partners, LLC and The Kaufman Organization (Kaufman), the exclusive managing and leasing agent for Clarion Partners’ 100-104 Fifth Avenue, announced that Red Ventures, a technology and digital marketing firm, has signed a 23,000-square-foot lease to consolidate and relocate its New York offices from 1675 Broadway and 251 Park Avenue South to 100-104 Fifth Avenue. The combined company will occupy a duplex space consisting of the entire 16th and partial 17th floor, including a private roof deck, in the Union Square office building.
“The new location will unite two of our fastest-growing consumer brands, The Points Guy and Bankrate, compounding their energy and growth,” said Ric Elias, Red Ventures CEO. “Red Ventures will now have a world-class content hub in the heart of Manhattan, helping consumers make better decisions about travel and finance.”
“Red Ventures is the latest in a growing roster of high-profile firms, including Apple and Adobe, that have chosen 100-104 Fifth Avenue as a key part of their New York base of operations,” said Margaret Egan, Senior Vice President with Clarion Partners. “This transaction is further proof that the modern, state-of-the-art spaces in this retro-chic building provide both an attractive and practical workplace environment for industry-leading companies and their top talent.”
“100-104 Fifth Avenue has proven to be a destination office location for a diverse collection of both established and growing firms in Midtown South,” said Grant Greenspan, Principal of Kaufman. “The property’s institutional ownership and management, convenient location, modern design and advanced technology infrastructure make the property an ideal location for growing tech and marketing firms, such as Red Ventures, to continue expanding their businesses in one of the most sought-after office markets in the country.”
Mr. Greenspan and Michael Kaufman of Kaufman represented Clarion Partners, while John Cefaly, Nicholas Dysenchuk, Evan Algier, Thomas Ross and Brian Decillis, all of Cushman & Wakefield, represented the tenant. Red Ventures is expected to take occupancy in November 2019.
Brian Decillis, Managing Director at Cushman & Wakefield commented, “Our team worked closely with Red Ventures to find this space and consolidate two independent offices in Manhattan, which involved a sublease transaction at 1675 Broadway and a short-term lease with SL Green at 750 Third Avenue. This highly desirable Union Square/Flatiron district location, combined with dramatic views of lower Manhattan and an interconnecting stairway makes this office space truly unique. When renovations are completed in the 4th quarter of 2019, this office will be a world-class showpiece and a vibrant new home for The Points Guy and Bankrate.”
Built in 1905, 100-104 Fifth Avenue is a 17-story, 270,000-square-foot office tower located in Union Square. The French Gothic building features a mix of creative and new media companies, advertising and architectural firms, educational companies and financial firms. The 100-104 tenant roster includes Apple, Adobe, Net-A-Porter and Yelp. 100-104 Fifth Avenue features modern lobbies, elevators and advanced telecommunications capabilities. The building boasts Energy Star and Wired NYC certifications.