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Media iQ Digital Triples Manhattan Office Presence

| Commercial Real Estate News, Leasing, Office| Views: 112


Media iQ Digital, a global analytics and technology company, is tripling its office footprint in Manhattan. The independently funded organization has decided to leave its headquarters in Greenwich Village and move to a bigger space in the city’s NoMad submarket.

261 5Th Avenue, New York (Yardi Matrix)

The company has recently entered a 10-year, 23,396-square-foot lease at 261 5th Ave., where it will occupy the entire 25th and 26th floors. Its new offices benefit from exclusive access to a portion of a private rooftop terrace, accessible through a passenger elevator. According to an official release, the asking rent price was $85 per square foot.

“We’re very excited for our new office space and its convenient location. The move comes as a result of Media iQ’s consistent growth in North America over the past several years,” Rebecca Mahony, the company’s chief marketing officer, said in a statement.

The analytics services provider founded in 2010 is moving to the 1928-built tower from its current 8,013-square-foot space at 853 Broadway, another historic New York City office building. This move marks the company’s third expansion; Media iQ Digital initially occupied a 2,200-square-foot space at 853 Broadway.

Media iQ’s new home, the 26-story high-rise at 261 5th Ave., has a diverse tenant roster comprising a combination of general office users and retailers. The building is home to public relations firm DKC, e-commerce platform Next Jump, The Brandman Agency, and a variety of companies active in the home goods industry—per Yardi Matrix data. This lease brings the tower’s occupancy to 87%.

The 441,922-square-foot office asset features 18,108 square feet of retail space and a 57,305-square-foot showroom. Originally completed in 1928, the Art Deco building was cosmetically renovated in 2000. The revamping efforts included lobby, façade, and common corridor upgrades, as well as the installation of a high-speed elevator dispatch system. Located between the Flatiron and the Garment districts, the property is close to Madison Square Park.

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