A global ad agency is soaring to new Midtown digs after outgrowing its SoHo offices.
London-based Talon signed a five-year lease for 5,838 square feet on the fourth floor of 489 Fifth Avenue, Commercial Observer has learned.
Asking rent was $68 per square foot, according to a source with knowledge of the deal.
The agency will relocate the headquarters of its U.S. division, Talon America, from its previous 2,700 square feet at 584 Broadway, the source said. The move to the 34-story Fifth Avenue building between East 41st and East 42nd streets, directly across the street from the New York Public Library’s main branch, will more than double the company’s New York footprint.
Talon was founded in 2013 and offers consulting for out-of-home global ad campaigns. In addition to its London and New York outposts, it also has offices in Canada, Ireland, Germany, the United Arab Emirates and Singapore.
Olmstead Properties’ Steven Marvin and Jason Birk arranged the deal for Talon, while landlord Kalimian Equities was represented by Newmark (NMRK)’s Erik Harris and Zachary Weil.
“We are happy to add another strong company to our tenant roster,” Harris wrote in an email. The Fifth Avenue building’s new amenity center has helped “differentiate the building from its competition,” Harris added.
Marvin and Birk declined to comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
A global ad agency is soaring to new Midtown digs after outgrowing its SoHo offices. London-based Talon signed a five-year lease for 5,838 square feet on the fourth floor of 489 Fifth Avenue, Commercial Observer has learned. Asking rent was $68 per square foot, according to a source with knowledge of the deal. The agency
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