Havas Health Extends and Expands Manhattan Office Lease on Madison Avenue

Health-focused advertising and communications network Havas Health recently extended and expanded its office lease in Manhattan(opens in new tab) at 200 Madison Ave.

The network was represented in the transaction by a Newmark team of New York Tri-State Region President David Falk and Executive Managing Director Jason Greenstein. Meanwhile, the team working on behalf of the property owner included a partnership of George Comfort & Sons, Loeb Partners Realty, and Jamestown.

Founded in 1835, Havas Health has become one of the world’s largest global communications groups and operates across more than 100 markets. Havas has maintained its headquarters at 200 Madison Avenue for nearly 30 years.

The latest lease extension is reportedly a long-term agreement and includes an expansion of 64,657 square feet of Midtown Manhattan office space, which brings the group’s headquarters footprint here to more than 254,000 square feet.

“Havas Health’s decision to expand and extend its commitment at 200 Madison Avenue reflects the enduring appeal of well-located, high-quality workplace environments for leading global companies,” said Falk. “We were proud to advise Havas on a transaction that accommodates its continued growth while providing the scale, flexibility and workplace environment to support the business for years to come.”

Rising 26 stories in the Grand Central district, the building at 200 Madison Ave., has recently had a renovation of the entrance and lobby and is currently undergoing the development of an 11,000-square-foot indoor-outdoor amenity center, for which plans include executive conference rooms, collaborative and event spaces, a lounge, and an outdoor sky garden.

Dating back to 1926, the distinctive property features flexible floorplates and offers convenient access to a variety of transit options, including the Grand Central Terminal, Herald Square and Penn Station, as well as multiple subway and bus lines.

New York has consistently been a top-ranking office market for all key fundamentals this year: sales of office properties since the start of the year have surpassed $5 billion; the average listing rate reached above $70 per square foot and is the highest in the Northeastern U.S. region; and led supply among Northeastern markets, with more than 3.7 million square feet under construction at the start of August.