Buzzfeed Subleases 110 KSF in Manhattan
Savills represented the new tenant, a work operating system company, in the transaction.
225 Park Ave. S.
Monday.com, a work operating system company, has signed a 110,000-square-foot sublease at 225 Park Ave. S. in New York City. Savills represented the company, while CBRE worked on behalf of the sublessor, Buzzfeed. Orda Management owns the 511,757-square-foot Manhattan office property, according to CommercialEdge data.
Completed in 1910 and renovated in 2017, the property spans 0.6 acres and comprises a 19-story building with 40,700-square-foot floorplates, outdoor terraces and a kitchen. Monday.com will occupy the 13th to 16th floors and will have a dedicated private entrance. Other tenants of the property include Meta, STV, WB Wood and The Ainsworth, among others.
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Located within the Flatiron District, the property is close to numerous metro stations, Madison Square Park and within half a mile of the Empire State Building. Several dining and retail venues are also within walking distance of the property.
Vice Chairman & Director Jim Wenk, Executive Managing Director Kirill Azovtsev, Assistant Director Allison Buck, alongside Managing Director Alex Redlus of Savills worked on behalf of the tenant. Senior Vice President Jason Frazier, Associate Jesse de la Rama and Vice Chairman Christopher Mansfield of CBRE represented Buzzfeed.
In May, Savills represented a consumer goods company in a 62,000-square-foot lease at another NYC office tower located at 135 W. 50th St. in Midtown Manhattan. The recently renovated 925,000-square-foot building is owned by UBS Realty Investors.
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