Omnicom Group Leases Office Space At 195 Broadway, New York With Landlord L&L Holding Company

Located at 195 Broadway in New York, NY, the office property spans approximately 1 million square feet and is owned by L&L Holding Company. Omnicom Group, a Big Four advertising conglomerate, has extended its term for another 15 years on roughly 288,000 square feet within the 29-story building that once served as the headquarters of AT&T. As part of the deal, some of Omnicom's upper floors are being relocated to a contiguous block on floors four through eight, totaling about 205,000 square feet. The asking rent for the space is $65 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Tenant: Omnicom Group
• Square Feet: 205,000
• Tenant's Representative: Ileen Schoenfeld (Brown Harris Stevens)
• Landlord: L&L Holding Company
• Market: New York

The representatives involved in the transaction include Ileen Schoenfeld from Brown Harris Stevens representing Omnicom Group and David Berkey and Andrew Wiener representing the landlord, L&L Holding Company in-house. The building at 195 Broadway has seen recent redevelopment, with $50 million invested in the retail component. Other notable tenants in the building include book publisher HarperCollins and Abrams. The property was acquired by L&L Holding in 2005 and later recapitalized alongside Beacon Capital Partners.