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Omnicom Group Leases 64,000 SF Office Space At 220 E 42nd St, New York

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LEASED

New York

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Office64,000 SF
Leased 07/26/2016
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LEASED

Omnicom Group Leases 64,000 SF Office Space At 220 E 42nd St, New York

220 E 42nd St, New York, NY, 10017

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Office64,000 SF
Leased 07/26/2016
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:64,000 SF
Transaction Type:Lease

The property at 220 East 42nd St, New York, NY, 10017 is an office building housing the marketing communications firm Omnicom Group. The transaction involved a 15-year lease for 64,000 square feet of space on the ninth floor. The landlord, SL Green, represented itself in the deal, while Omnicom Group was represented by Feld Real Estate's Lee Feld. Omnicom Group has been occupying space in the building since 2009 and now occupies a total of 231,000 square feet within the 1.2 million square foot building.

Summary of transaction details:

The deal at 220 East 42nd St involved key individuals including Ileen Schoenfeld of Brown Harris Stevens as the tenant's representative, and Lee Feld of Feld Real Estate representing Omnicom Group. SL Green, the landlord of the property, managed the transaction in-house. The lease agreement secured by Omnicom Group solidifies its long-standing presence in the building, reflecting its commitment to the location and the space provided.

Players

Ileen Schoenfeld
4 deals$13.5M volume
BROKER

SL Green
LANDLORD

Details

LEASED
IMAGE: 07/26/2016 ADDRESS: 220 E 42nd St, New York, NY, 10017 MARKET: New York ASSET TYPE: Office TENANT'S REP: Ileen Schoenfeld(Brown Harris Stevens) TENANT: Omnicom Group LANDLORD: SL Green SQUARE FEET: 64000

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Deal Type
Effective Rent (Annual)

$3,668,441.38

Total Lease Value

$36,684,413.80

Net Landlord Cash Flow$3,668,441.38